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BORG WARNER ACCEPT. v. ITT DIVERSIFIED CREDIT

No. C1-83-281.

344 N.W.2d 841 (1984)

BORG WARNER ACCEPTANCE CORPORATION, Appellant, v. ITT DIVERSIFIED CREDIT CORPORATION, Respondent.

Supreme Court of Minnesota.

March 9, 1984.

Attorney(s) appearing for the Case

David K. Hackley, Minneapolis, for appellant.

Thomas D. Nagel, Litchfield, for respondent.

Considered and decided by the court en banc without oral argument.

YETKA, Justice.

This is an appeal by Borg Warner Acceptance Corporation, a creditor holding a perfected blanket security interest in a debtor's inventory. The district court of Meeker County declared Borg Warner's interest junior to ITT Diversified Credit Corporation's purchase money interest in seven Crestliner boats, which were part of the debtor's inventory. ITT perfected its purchase money interest after Borg Warner had perfected its blanket lien. ITT requested...

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