Millennium Bank v. UPS Capital Business Credit

Opinion by

JUDGE DAILEY

{1 In this dispute over ereditors' rights, plaintiff, Millennium Bank (Millennium), appeals the district court's entry of summary judgment in favor of defendant, UPS Capital Business Credit (UPS). We affirm and remand for further proceedings.

I. Background

T2 This dispute arose out of a series of agreements involving two secured ereditors, Millennium and UPS, and a debtor, Superior Plaster and Drywall, Inc. (Superior).

T3 UPS loaned Superior $1,027,000 secured by Superior's assets. Millennium loaned Superior $1,500,000, also secured by Superior's assets. Millennium and UPS…