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IN RE JERSEY TRACTOR TRAILER TRAINING INC.

No. 08-3471.

580 F.3d 147 (2009)

In re JERSEY TRACTOR TRAILER TRAINING INC., Debtor Wawel Savings Bank, v. Jersey Tractor Trailer Training, Inc. and Yale Factors NJ, LLC, Yale Factors NJ, LLC, Appellant.

United States Court of Appeals, Third Circuit.

Opinion Filed September 1, 2009.

Attorney(s) appearing for the Case

Cory M. Gray, Esq. (Argued), Greenberg Traurig, Florham Park, NJ, for Appellant.

Thomas P. Monahan, Jr., Esq. (Argued), Law Office of Dennis A. Maycher, Garfield, NJ, for Appellee.

Before: BARRY, SMITH, Circuit Judges, and DuBOIS District Judge.

OPINION OF THE COURT

BARRY, Circuit Judge.

This case arises out of the competing claims of Wawel Savings Bank ("Wawel") and Yale Factors LLC ("Yale") to the accounts receivable of debtor Jersey Tractor Trailer Training, Inc. ("JTTT"). Wawel entered into a loan agreement with JTTT and its president, William B. Oliver, for the principal amount of $315,000. In the corresponding security agreement, JTTT pledged all capital equipment and assets of the company...

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