Jerry Jeweler, Inc.("Jerry") has as an inventory of diamonds and precious jewels in his Philadelphia jewelry store.Jerry agrees to use a set of diamonds worth $50,000 as collateral for repayment of a business loan from EZ Bank.A security agreement is executed, which correctly identifies of the loan and the set of diamonds as collateral. EZ Bank has titles to all the diamonds.A financing statement was not filed. Jerry's store is mortgaged with Stagecoach Bank and Jerry owes $25,000 on the mortgage.Jerry also obtained two business loans: One from BD Bank in the amount of $500,000 and one from Rigid Bank in the amount of $300,000.Jerry signed the business loan from BD Bank on March 1^st.He signed the loan from Rigid Bank on March 2^nd.Rigid Bank filed the security agreement with the Pennsylvania Department of State on March 3^rd.BD Bank filed the security agreement with the same office on March 4^th. Shortly after the loans from EZ Bank, BD Bank and Rigid Bank, made an unwise, uninsured investment decision in gold dust from Nigeria and lost hundreds of thousands of dollars. Jerry no longer has the inventory to satisfy his debts, but desperately wants to keep the store.He consults with his attorney and promptly files for bankruptcy in the US District Court, Eastern District of Pennsylvania.

The federal bankruptcy judge appoints a trustee name James Wilson.

You are the president of the lending division of BD Bank.You are requested to meet with the Chief Executive Officer of BD Bank and provide your analysis of the probable outcome of the of the bankruptcy in regard to all the creditors, including, but not limited to BD Bank.The CEO is also an attorney.

Provide a full legal analysis of the status of the creditors and the debtor?