Spectrum Scan LLC v. Valley Bank & Trust Co. (In re Tracy Broad. Corp.)
Oct
19
2010
Ruling
Bank's security interest in general intangibles did not extend to proceeds of sale of debtor's FCC license.
Procedural posture
Plaintiffs, a judgment creditor and the chapter 11 trustee, and defendant bank filed cross-motions for summary judgment in an adversary proceeding, seeking a determination of the extent of the bank's security interest.
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Court
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