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IN RE BILLINGSLEY

No. 02-71214.

290 B.R. 345 (2002)

In re Gary Robert BILLINGSLEY, Debtor.

United States Bankruptcy Court, C.D. Illinois.

December 16, 2002.

Attorney(s) appearing for the Case

Brent D. Holmes, Mattoon, IL, Daniel C. Lanterman, Springfield, IL, Michele M. Springer, Rockford, IL, for creditor.

Randall A. Wolter, Springfield, IL, for debtor.

OPINION

LARRY L. LESSEN, Bankruptcy Judge.

The issue before the Court is whether Niemerg Gas Company has a perfected security interest in the Debtor's 500 shares of stock in Excel Energy Company.

The material facts are not in dispute. Niemerg Gas Company obtained a $550,000 judgment against the Debtor, Gary Billingsley, and several co-defendants on August 15, 2001. The Judgment Order, which was entered pursuant to a settlement agreement, provided...

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