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IN RE BEACH TELEVISION PARTNERS

No. 94-2119.

38 F.3d 535 (1994)

In re BEACH TELEVISION PARTNERS, d/b/a WAYK Channel 56 and d/b/a WAYQ Channel 26, Debtors. ORIX CREDIT ALLIANCE, INC., Plaintiff-Appellant, v. George E. MILLS, Jr., Trustee, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

November 17, 1994.

Attorney(s) appearing for the Case

Daniel R. Matthews, James E. Foster, Foster & Kelly, Orlando, FL, for appellant.

Richard B. Webber, II, Akerman, Senterfitt & Eidson, Orlando, FL, for appellee.

Before HATCHETT and BLACK, Circuit Judges, and YOUNG, Senior District Judge.

HATCHETT, Circuit Judge:

In this appeal, we hold that a creditor may hold a valid security interest in the proceeds from the sale of a Federal Communications Commission (FCC) broadcasting license. We reverse.

FACTS

Beach Television Partners (BTP) was a Florida general partnership that owned and operated two independent television stations. Orix Credit Alliance, Inc. (Orix) financed virtually all of BTP's broadcasting equipment, and to secure repayment...

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