Bankr. M.D.N.C.: In re Canuto- Sua Sponte Summary Judgment Denying Strip-Off based on Fixture Filing

Summary: The Debtors sought to strip-off the lien held by PSNC Energy for a HVAC unit as wholly unsecured based on the value of the real property. Without any answer by PSNC, the Court sua sponte held that based on the record, consisting primarily of the Proof of Claim filed by PSNC, that A UCC-1 fixture filing had been recorded within 20 days of installation of the HVAC unit and was, pursuant to N.C.G.S. § 25-9-334(d), entitled to a first priority, perfected purchase money security interest in the HVAC. For a copy of the opinion, please see: Canuto- Sua Sponte Summary Judgment Denying Strip-Off based on Fixture Filing