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GIBRALTAR FINANCIAL v. PRESTIGE EQUIPMENT

No. 20S03-1010-CV-618.

949 N.E.2d 314 (2011)

GIBRALTAR FINANCIAL CORP., Appellant (Plaintiff below), v. PRESTIGE EQUIPMENT CORPORATION, National Machinery Exchange, Inc. Key Equipment Finance, Inc. f/k/a Key Corporate Capital, Inc., and Chikol Equities, Inc., Appellees (Defendants below).

Supreme Court of Indiana.

June 21, 2011.

Attorney(s) appearing for the Case

R. Brock Jordan , James E. Rossow, Jr. , Indianapolis, IN, Attorneys for Appellant.

William G. Lavery , Elkhart, IN, Attorney for Appellees, Key Equip. Finance, Inc. & Chikol Equities, Inc.

Cynthia S. Gillard , Dean E. Leazenby , Elkhart, IN, Attorney for Appellees, Prestige Equip. Corp. & Nat'l Machinery Exchange, Inc.

On Petition to Transfer from the Indiana Court of Appeals, No. 20A03-0910-CV-495

SULLIVAN, Justice.

The parties to this lawsuit claim rights to a punch press used in the manufacturing business of now-defunct Vitco Industries, Inc. Gibraltar Financial Corp. holds a perfected security interest in Vitco's tangible and intangible property, including its equipment. The other parties claim that the security interest does not cover the press because the press was...

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