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BORG-WARNER ACCEPT. CORP. v. FIRST NAT. BANK

No. 45455.

238 N.W.2d 612 (1976)

BORG-WARNER ACCEPTANCE CORPORATION, Appellant, v. FIRST NATIONAL BANK OF PIPESTONE, Pipestone, Minnesota, Respondent, Alton G. Claussen, Respondent.

Supreme Court of Minnesota.

January 16, 1976.

Attorney(s) appearing for the Case

James E. O'Neill, Pipestone, David K. Hackley, Minneapolis, for appellant.

Gale E. Fisher, Sioux Falls, S. D., David J. Trygstad, Pipestone, for First Nat. Bank.

William P. Scott, Pipestone, for Claussen.

Heard before SHERAN, C. J., and TODD, MacLAUGHLIN, YETKA and SCOTT, JJ., and considered and decided by the court en banc.

TODD, Justice.

Borg-Warner Acceptance Corporation (Borg-Warner) appeals from a judgment granting The First National Bank of Pipestone (Bank) priority in certain assets of their mutual debtor. Borg-Warner was the first to file a financing statement covering, among other goods, the same inventory included in a financing statement subsequently filed by the Bank. The lower court considered the subsequent conduct of the parties...

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