Borrego Springs Bank, N.A. v. Skuna River Lumber, LLC

ORDER

MICHAEL P. MILLS, Chief Judge.

This cause comes before the court on the appeal of Borrego Springs Bank, N.A. (“Borrego”) from the September 22, 2006 order and opinion of the United States Bankruptcy Court for the Northern District of Mississippi. This Court, having heard oral argument and having reviewed the submissions of the parties, is now prepared to rule.

Skuna River Lumber, LLC (“Skuna”) is a Mississippi corporation formed in April 2003, by R. Scott Clark, Skuna’s sole member. On February 14, 2005, Skuna obtained a $2.4 million commercial loan from Borrego to purchase a lumber mill…