Exchange National Bank v. A.J. Rackers, Inc. (In Re A.J. Rackers, Inc.)

MEMORANDUM OPINION

FRANK W. ROGER, Chief Judge.

On December 6, 1993, the Exchange National Bank of Jefferson City (the Bank) filed this adversary proceeding against the Debt- or, A.J. Rackers, Inc., and its statutory trustees to “Determine the Validity of Security Interest.” A trial was set and held on March 30,1994 at which time the Court heard statements of counsel, evidence from witnesses, and legal arguments. All parties were permitted to file post-trial briefs. The Court received those briefs, and the case is ripe for decision.

Facts

The Debtor sold, installed and repaired heating and air…