Arkansas Dev. Fin. Auth. v. Rice (In re Yarnells Ice Cream Co.)

Ruling: 
Trustee with constructive notice of deed could not avoid mortgage.
Procedural posture: 
The Arkansas Development Finance Authority (ADFA), an agency of the State of Arkansas, filed this adversary proceeding against the chapter 7 trustee, seeking turnover of property pursuant to 11 U.S.C.S. § 542. The Trustee filed an answer to the complaint and also filed a counterclaim against ADFA. Before the court was the ADFA's motion for summary judgment. Also before the court was the Trustee's motion for summary judgment.
Issue: 
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Commercial case opionion summary, case decided on February 05,2013, LexisNexis #0213-121