ARTHUR BRISKMAN, Bankruptcy Judge
This matter came before the Court on the Notice Of Trustee's Final Report And Application For Administrative Compensation And Reimbursement Of Expenses And Notice Of Proposed Distribution, as supplemented by Trustee's Report of Findings Regarding Inventory and Accounts Receivable of Debtor, (the "Final Report") and the Objection Of Triad Capital Corporation Of New York And Ibero American Investors Corporation To Notice Of Trustee's Final Report And Application For Administrative Compensation And Reimbursement Of Expenses And Notice Of Proposed Distribution and Objection By Claimant United States Of America To "Notice Of Trustee's Final Report And Application For Administrative Compensation And Reimbursement Of Expenses And Notice Of Proposed Distribution" (collectively, the "Objections") to the Final Report.
There were six allowed secured claims in this case. SunTrust Bank had first priority and its secured claim has been paid in full. Triad Capital Corporation of New York ("Triad") and Ibero American Investors Corporation ("Ibero), whose secured claims were simultaneously perfected and who therefore share the same level of priority, have priority over Cardinal Industries, Inc. and McKesson HBOC, Inc. due to the timing of perfection of their various secured claims. The United States (Internal Revenue Service) has tax claims secured by properly filed Notices of Federal Tax Liens, which take priority over Triad and Ibero, but only to the extent provided by the provisions of 26 U.S.C. § 6323(c). The Final Report reflects that the Chapter 7 Trustee does not hold sufficient estate funds to satisfy the payment of administrative claimants, the Federal tax claims and the claims of Triad and Ibero. The Chapter 7 Trustee, the United States, Triad and Ibero have agreed to resolve the Objections and the distribution of funds as described below.
After reviewing the Pleadings, and noting that the United States, Triad and Ibero have agreed to the treatment of their respective claims proposed herein, the Court finds that the Final Report is due to be approved and the Objections, as resolved by agreement of the parties, are due to be sustained in part and overruled in part. Accordingly, it is
ORDERED, ADJUDGED and DECREED that the Final Report is APPROVED; and it is further
ORDERED, ADJUDGED and DECREED that the Objection Of Triad Capital Corporation Of New York And Ibero American Investors Corporation To Notice Of Trustee's Final Report And Application For Administrative Compensation And Reimbursement Of Expenses And Notice Of Proposed Distribution is SUSTAINED IN PART and OVERRULED IN PART; and it is further
ORDERED, ADJUDGED and DECREED that the Objection By Claimant United States Of America To "Notice Of Trustee's Final Report And Application For Administrative Compensation And Reimbursement Of Expenses And Notice Of Proposed Distribution" is SUSTAINED IN PART and OVERRULED IN PART; and it is further
ORDERED, ADJUDGED and DECREED that the Chapter 7 Trustee shall disburse the remaining estate funds in the following manner:
a) $65,300.15 to administrative claimants, as described in the Final Report.
b) $108,700.06 to the United States, in care of its counsel, on account of its allowed secured tax claims; and
c) the balance of the estate's funds to Triad Capital Corporation of New York and Ibero American Investors Corporation, pro rata, c/o Akerman Senterfitt, on account of their respective allowed secured claims.