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IN RE SEAWAY EXP. CORP.

No. 89-35872.

912 F.2d 1125 (1990)

In re SEAWAY EXPRESS CORP., Debtor. NATIONAL BANK OF ALASKA, N.A., Appellant, v. Warren L. ERICKSON, Trustee for Seaway Express Corporation, Appellee.

United States Court of Appeals, Ninth Circuit.

Decided August 30, 1990.

Attorney(s) appearing for the Case

Kimberly W. Osenbaugh, Bogle & Gates, Seattle, Wash., for appellant.

Eugene J. Craig, Seattle, Wash., for appellee.

Before WRIGHT, BEEZER and TROTT, Circuit Judges.

BEEZER, Circuit Judge:

The National Bank of Alaska (NBA) appeals a decision of the Bankruptcy Appellate Panel (BAP), granting summary judgment to Erickson, trustee in the bankruptcy of Seaway Express Corp. (Seaway). NBA claims a priority interest in property owned by Seaway. The BAP rejected NBA's claim. We affirm.

I

During 1985-86, NBA provided a line of credit to Seaway secured by a credit agreement. Under the agreement, Seaway's credit line was...

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