Gary Willingham vs. Gallatin Group, Inc., et al

This appeal involves a dispute between a secured creditor and two local governments regarding the priority of their claims against the proceeds from the sale of the assets of a judicially dissolved corporation. Following a bench trial, the Chancery Court for Sumner County held that the local governments' claims for delinquent business taxes had priority over the claim of the secured creditor. We have determined that the secured creditor's claim should have been given priority over the local governments' claims and, therefore, reverse the judgment.