United States v. Antenna Systems, Inc.

CAFFREY, District Judge. *

This matter came before the court on cross-motions for summary judgment filed by the United States and by the trustee in bankruptcy of Antenna Systems, Inc. The suit began as a petition for injunctive relief in which the United States sought to obtain possession of its collateral under a loan agreement. By agreement of the parties, most of the disputed property was sold and the proceeds of the sale are being held in escrow pending a determination of the rights of the parties.

Antenna Systems, Inc. (Antenna) and the New England Merchants National Bank entered into a…