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IOWA STATE COMMERCE v. MANILLA GRAIN TERM.

No. 84-771.

362 N.W.2d 562 (1985)

IOWA STATE COMMERCE COMMISSION, Appellee, v. MANILLA GRAIN TERMINAL, INC., Respondent, and IGF Insurance Company, Appellant.

Supreme Court of Iowa.

February 13, 1985.

Attorney(s) appearing for the Case

Larry L. Seckington and Michael J. Schroeder of Brick, Seckington, Bowers, Swartz & Gentry, P.C., Des Moines, for appellant.

Philip E. Stoffregen, General Counsel, Patrick J. Nugent, Deputy Counsel, and Joan Susan Allender, Asst. General Counsel, Iowa State Commerce Commission, for appellee.

Considered by REYNOLDSON, C.J., and McGIVERIN, LARSON, SCHULTZ, and WOLLE, JJ.

LARSON, Justice.

This is an appeal in an action brought by the Iowa State Commerce Commission seeking appointment as receiver of the Manilla Grain Terminal pursuant to Iowa Code section 543.3 (1983). The receivership action resulted from alleged shortages in the quantity and quality of grain stored in the facility. The commission was appointed as receiver and disposed of the stored grain. Net proceeds from the sale were invested through the state treasurer pending...

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