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SPERRY CORP. v. FARM IMPLEMENT, INC.

No. 84-2359.

760 F.2d 196 (1985)

SPERRY CORPORATION, v. FARM IMPLEMENT, INC., Bush Hog, a Division of Allied Products Corp., a/k/a Bush Hog Agri Implement Division of Allied Implement, Appellant, First State Bank, Springdale, Arkansas, The United States of America, Acting Through the Small Business Administration, Appellee. Arkansas State Bank, Siloam Springs, Ark.; Federal Mutual Insurance Co.; Ansel Manufacturing Company, Inc.; The State of Arkansas, through the Arkansas Department of Finance & Administration; J.I. Case Company; Northwest National Bank.

United States Court of Appeals, Eighth Circuit.

Decided April 15, 1985.

Attorney(s) appearing for the Case

Powell Woods, Siloam Springs, Ark., for appellants.

J. Michael Fitzhugh, Asst. U.S. Atty., Fort Smith, Ark., James Paul Beachboard, Small Business Admin., Little Rock, Ark., for appellee.

Before BRIGHT, JOHN R. GIBSON and FAGG, Circuit Judges.

BRIGHT, Circuit Judge.

This appeal arises out of an interpleader action commenced by Sperry Corporation ("Sperry") to determine the priorities of several creditors of Farm Implement, Inc., to certain funds held by Sperry after its dealership arrangement with Farm Implement expired. The district court1 determined that the Small Business Administration ("SBA"), appellee, held the superior lien and was therefore entitled to the funds. Appellant...

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