On June 8, Business Corp. borrowed $80k from the Bank and gave the bank a security interest in its equipment (worth $100k). On July 18, Bank filed a valid financing statement in the proper place. The next day, Business Corp. filed its bankruptcy petition.

Assume Bank perfected on June 8, but the collateral was worth $60k (the debt was still $80k, so the bank was undersecured). Would routine payments made to service this debt be preferential?

I think the answer is no? It is not preferential. Does no mean that the bank wins and the trustee loses because the bank was undersecured? I am not fully sure of the no answer if no is correct, but I get no from reading 547(c)(2).

Am I correct?