Steinberg v. National Bank & Trust Co. (In Re Independence Land Title Corp.)

MEMORANDUM AND ORDER

ROBERT L. EISEN, Bankruptcy Judge.

This matter came to be heard on the trustee’s application to avoid a lien on a motor vehicle. The National Bank and Trust Company of Sycamore contends the lien is valid and perfected while the trustee contends the lien is null and void as a preference. The court having researched the issues presented and being fully advised in the premises makes the following findings of fact and conclusions of law.

FINDINGS OF FACT

1. In February 1980 the debtor assigned its interest in the car to Mr. Wade, President of the debtor corporation.

2. Mr. Wade,…