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In re Hintze
United States Bankruptcy Court for the Northern District of Florida
525 B.R. 780 (2015)
Matthew and Larina Hintze (debtors) signed a promissory note in favor of Christopher James (defendant) for $375,000. The promissory note granted James a security interest in “all of [the Hintzes’] assets.” Subsequently, the Hintzes filed for bankruptcy. The trustee in bankruptcy (plaintiff) filed a notice of an intent to sell Matthew’s equity in a business he owned. James objected to the sale, arguing that he had a security interest in the equity. The trustee moved for summary judgment, arguing that James did not have a valid security interest in the Hintzes’ assets. James argued, among other things, that parol evidence could be used to determine Hintzes’ assets.
Rule of Law
Holding and Reasoning (Specie, J.)
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