First American National Bank of Wausau v. Fiesta Corp. (In Re Fiesta Corp.)

MEMORANDUM DECISION ON SUMMARY JUDGMENT

ROBERT D. MARTIN, Bankruptcy Judge.

This adversary proceeding is primarily between two banks each claiming a prior security interest in a computer owned by the debtor, Fiesta Corporation (“Fiesta”). Plaintiff, First American National Bank of Wausau, (“First American”), defendant, Fiesta and defendant, Security State Bank of Colby (“Security State”) have each filed motions for summary judgment. Judgment may be entered upon the defendants’ motions for the following reasons.

In 1979, Fiesta purchased a model 960 Qantel computer (“the 960”) from Wausau…