Rentenbach Constructors, Inc. v. CM Partnership

LEVINSON, Judge.

Defendant-appellant, CM Partnership (“CM”), appeals from summary judgment entered in favor of defendant-appellee Lexington State Bank (“LSB”). We affirm.

Forsyth Drywall and Fireproofing, L.L.C. (“Forsyth Drywall”) is a North Carolina corporation; defendants are secured creditors of Forsyth Drywall. The relevant facts are summarized as follows: In 1999 LSB loaned money to Forsyth Drywall, secured by Forsyth Drywall’s inventory, accounts, equipment, and other collateral. LSB filed a UCC financing statement on 12 February 1999. In 2001 United Capital Funding Corp. (“UC”) was…