Lincoln First Bank, N.A. v. Miraglia (In Re Miraglia)

MEMORANDUM AND DECISION

EDWARD D. HAYES, Bankruptcy Judge.

Lincoln First Bank, the plaintiff, has moved for summary judgment. The trustee is opposing on various grounds. Arguments have been made, briefs have been submitted and the matter is now ready for decision.

The facts follow. On February 16, 1977, Lincoln First Bank, hereinafter referred to as Lincoln, granted the debtor and his partner a $50,000 loan for the operation of a business which was called Louie’s Delli. Louie’s Delli was located in Steuben County. On that same date, the debtor and his partner executed a security agreement which…