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IN RE AYERS AVIATION HOLDINGS, INC.

Bankruptcy No. 00-11881. Adversary No. 01-1003.

282 B.R. 534 (2002)

In re AYERS AVIATION HOLDINGS, INC., Debtor. First National Bank of South Georgia, Plaintiff, v. Ayers Aviation Holdings, Inc., GATX Capital Corporation, Zlatava Davidova, Trustee of LET, a.s. and General Electric Company, Defendants.

United States Bankruptcy Court, M.D. Georgia, Albany Division.

August 21, 2002.

Attorney(s) appearing for the Case

Jesse C. Stone, Merrill & Stone, Swainsboro, GA, for debtor.

Stephen G. Gunby, Fife M. Whiteside, Columbus, GA, Deborah D. Williamson, Cox & Smith, Inc., San Antonio, TX, for creditors.

MEMORANDUM OPINION

JOHN T. LANEY, III, Bankruptcy Judge.

On August 7, 2002, the court conducted a trial on the complaint of First National Bank of South Georgia ("Plaintiff") to determine the validity, priority and extent of liens or other interest in certain property. At the conclusion of the trial, the court took the matter under advisement. After considering the evidence, the parties' briefs, stipulations and oral arguments as well the applicable...

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