Alcom America Corporation v. Arab Banking Corporation

This is an appeal from the order of the district court affirming the bankruptcy court’s grant of summary judgment to Arab Banking Corporation (“the bank”) against ALCOM America Corporation (“ALCOM”). See In re ALCOM America Corp., 156 B.R. 873, 879-82 (Bankr.D.D.C.1993). ALCOM contends that both courts erred in ruling that the bank had a valid security interest in the ethanol before its sale, and that ALCOM had no interest in the ethanol at the time it filed its petition in bankruptcy. Our review of the bankruptcy court’s conclusions of law is de novo. E.g., In re Weisman, 5 F.3d 417, 419…