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DEUTZ-ALLIS CREDIT CORP. v. LYNCH FARMS

No. 85-1544.

387 N.W.2d 593 (1986)

DEUTZ-ALLIS CREDIT CORPORATION f/k/a Allis Chalmers Credit Corporation, Appellee, v. LYNCH FARMS, INC., Bob Lynch, and Sur-Gro Finance, Inc., Appellants.

Supreme Court of Iowa.

May 21, 1986.

Attorney(s) appearing for the Case

Robert A. Rolfe, Lamoni, for appellants.

Thomas E. Salsbery and Carla A. Scholten of Davis, Hockenberg, Wine, Brown & Koehn, Des Moines, for appellee.

Considered by REYNOLDSON, C.J., and HARRIS, CARTER, WOLLE, and LAVORATO, JJ.

LAVORATO, Justice.

In this appeal, plaintiff Deutz-Allis Credit Corporation (DACC) and defendant Sur-Gro Finance, Inc. (SGFI) argue over whose security interest in the same collateral is prior under Iowa Code chapter 554 (1983). In a well-written opinion, the trial court held that DACC's purchase money security interest (PMSI) was prior to SGFI's blanket security interest. We affirm.

In April, 1982, Lynch Farms...

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