SS Funding LLC v. Phelan

Raltron Electronics Corporation (“Ral-tron”) executed a statutory general assignment for the benefit of creditors, assigning all of its assets, except those “exempt by law from levy and sale under an execution,” to Michael Phelan (“the Assignee”). See § 727.104, Fla. Stat. (2006). The As-signee filed a Petition Commencing Assignment for the Benefit of Creditors in the circuit court.1

The Assignee filed a motion in the circuit court seeking to sell Raltron’s assets free and clear of liens and claims. Thereafter, SS Funding LLC (“SS Funding”) filed an objection to the Assignee’s motion, alleging…