SECURED TRANSACTIONS , UCC ARTICLE 9

Craig Drake Mfg., Inc. (the "Debtor") was a jewelry manufacturer. In 1999, the Debtor entered into a revolving credit agreement with a lender that later sold the loan and security interest to Sovereign Bank (collectively, the "Bank"). The revolving credit agreement granted the Bank a security intertest in the Debtor's current and future accounts and inventory. The Bank perfected its security interest in the Debtor's assets by filing a financing statement on July 27, 1999. The Bank protected its security interest by properly filing continuation statements in 2004, 2009, 2014, and in 2019. In 2007, T. Gluck & Co. ("Gluck") contracted to supply diamonds to the Debtor. Gluck and the Debtor entered into an agreement. To protect its interest in the goods, Gluck sent a notice to the Bank on January 31, 2007, and then filed a financing statement on February 24, 2007. Several years later, in late 2019, the Debtor retained a firm to manage a going-out-ofbusiness sale. The firm conducted the sale over a period of several months and remitted most of the proceeds to the Bank. Gluck was not paid for some of its goods in the inventory of the Debtor. Gluck brought a lawsuit against the Bank on December 31, 2019, alleging that it held the priority interest in its goods and making claims for conversion and violation of the Uniform Commercial Code. The Bank disputed Gluck's allegations and brought a motion for summary judgment in its favor on all the claims asserted against it. What Result? Full support your answer