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Ward v. Bank of Granite (In re Hickory Printing Group, Inc.)

479 B.R. 388 (2012)

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Ward v. Bank of Granite (In re Hickory Printing Group, Inc.)

United States Bankruptcy Court for the Western District of North Carolina
479 B.R. 388 (2012)

SH

Facts

Bank of Granite (defendant) (bank) held a security interest in certain collateral of Hickory Printing Group, Inc. (debtor) for which it had filed a financing statement. The bank filed a termination statement on December 1, 2008; a correction statement on November 10, 2009; and a new financing statement on May 27, 2010, each in connection with the same security interest. Shortly thereafter, the debtor filed a petition for relief under Chapter 7 of the United States Bankruptcy Code. The trustee in bankruptcy (plaintiff) initiated suit to avoid the security interest held by the bank in the debtor’s collateral.

Rule of Law

Issue

Holding and Reasoning (Whitley, J.)

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