KILKENNY, Circuit Judge:
On this appeal, we are asked to determine whether Trend Mills [appellant] has a valid security interest in various assets of the debtor. Both the bankruptcy court and the district court found that, under the Uniform Commercial Code [UCC] as adopted by the state of Arizona,
FACTS
On March 6, 1974, the debtor was adjudicated a bankrupt. In 1975, the bankruptcy
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