In Re Two Corporation

875 F.2d 240 19 Bankr.Ct.Dec. 1094 , Bankr. L. Rep. P 72,897 In re The TWO "S" CORPORATION, an Arizona corporation, Debtor. Donald ROMLEY, Trustee, Plaintiff-Appellant, v. SUN NATIONAL BANK, a national banking association, and The North American Bank, an Arizona banking corporation, Defendants-Appellees. No. 88-2615. United States Court of Appeals, Ninth Circuit. Argued and Submitted April 12, 1989. Decided May 23, 1989. James M. Marlar and Melinda S. Barnett, Teilborg, Sanders, and Parks, P.C., Phoenix, Ariz., for plaintiff-appellant. S. Cary Forrester, Kalish and Forrester, Clint W. Smith, Smith and Evans, Phoenix, Ariz., for defendants-appellees. Appeal from the Ninth Circuit Bankruptcy Appellate Panel. Before CHOY, WALLACE and WIGGINS, Circuit Judges. CHOY, Circuit Judge: OVERVIEW 1 The bankruptcy trustee, Donald Romley ("Romley"), appeals from a partial summary judgment in favor of two of the debtor's secured creditors, Sun National Bank and North American Bank (the "Banks"). In granting the partial summary judgment, the Bankruptcy Court held that the price obtained for the debtor's equipment at a court ordered sale represented the "value" of that equipment for the purpose of…