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IN RE LOCKRIDGE

Bankruptcy No. 0-02-01036-BHC-RJH. Adversary No. 03-00009.

303 B.R. 449 (2003)

In re Eleanor L. LOCKRIDGE, Debtor. William E. Pierce, Trustee, Plaintiff, v. Conseco Finance Servicing Corp., Defendant. Conseco Finance Servicing Corp., Third Party Plaintiff, v. RV Traders, Third Party Defendant.

United States District Court, D. Arizona.

December 15, 2003.

Attorney(s) appearing for the Case

Steven M. Cox, Waterfall, Economidis, Hanshaw & Villamana, Tucson, AZ, for Defendant.

Larry O. Folks, Santin, Poli & Ball, PLC, Phoenix, AZ, for RV Traders.

Michael P. Lane, Lane & Nach, P.C., Phoenix, AZ, for Chapter 7 Trustee.

William E. Pierce, Chino Valley, AZ, Chapter 7 Trustee.

OPINION

The Court must here determine who should bear the loss between an automotive dealership and a finance company when a chapter 7 bankruptcy trustee avoids a security interest that was not timely perfected. On these facts, the Court concludes that the loss must fall on the dealer who failed to perfect the lien prior to the bankruptcy case or within a timely manner thereafter.

BACKGROUND FACTS

Adobe RV Sales, Inc./RV Traders ("RV Traders")...

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