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MATTER OF McCORMICK

Bankruptcy No. 82-00589-W, Adv. No. 82-1079-W.

26 B.R. 869 (1983)

In the Matter of William E. McCORMICK, a/k/a William Edward McCormick, a/k/a Ed McCormick, Debtor. MICHIGAN NATIONAL BANK OF DETROIT, a national banking association, Plaintiff, v. William E. McCORMICK, Sally McCormick, Librio L. Settipani and Miriam Settipani, Defendants.

United States Bankruptcy Court, E.D. Michigan, S.D.

January 20, 1983.

Attorney(s) appearing for the Case

Denis W. Budds, Flat Rock, Mich., for William McCormick.

Kenneth D. Kruse, Allen Park, Mich., for Sally McCormick.

Jere D. Johnston, Detroit, Mich., for Michigan Nat. Bank of Detroit.

Richard C. McKnight, East Detroit, Mich., for Settipanis.

MEMORANDUM OPINION AND ORDER

GEORGE E. WOODS, Bankruptcy Judge.

This matter is before the Court on the motion of Michigan National Bank of Detroit (MNBD) for partial summary judgment.

In 1974, William E. McCormick, the debtor, was vice president and 50% shareholder of Mariner Yacht Sales. MNBD floor planned Mariner Yacht Sales inventory of boats. Additionally, MNBD purchased from Mariner Yacht Sales installment contracts for the sale of boats.

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