Opinion ID: 479412
Heading Depth: 1
Heading Rank: 6

Heading: Valuation of Gateway's Security

Text: 82 Gateway held a junior interest in the collateral of the East Washington store in which Marine held a senior interest. As the debt secured by Marine's interest was reduced, therefore, Gateway enjoyed a corresponding increase in the value of its security interest. The bankruptcy court found that during the preference period Gateway's security interest increased in value from $0 to $59,643.71. In order to arrive at this figure, the bankruptcy court first had to assess the value of Marine's collateral on March 16. Gateway, like Marine, contends that no evidence was introduced to establish this value. As we have already determined that the bankruptcy court's assessment of the value of Marine's collateral on March 16 was not clearly erroneous, we affirm the court's findings as to the size of Gateway's preference. 83 For the foregoing reasons the judgment of the district court is AFFIRMED in part and REVERSED in part.