Business Development Corp. v. Wolf (In re Tri-Valley Transportation, Inc.)

MEMORANDUM

DAVID L. CRAWFORD, Bankruptcy Judge.

In this declaratory judgment action, I find that the plaintiffs, Business Development Corporation and Citizens State Bank, have a perfected security interest in the assets and operating rights of the debtor pursuant to the mandatory provisions of Nebraska Revised Statutes Section 21 — 2012 (Reissue 1977).

On January 23, 1981, the filing date of this Chapter 7 petition, debtor was in the trucking business pursuant to operating rights granted by the Interstate Commerce Commission and the Nebraska Public Service Commission. Prior to the extension of…