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MATTER OF DONOVAN WIRE & IRON CO.

No. 86-2515.

822 F.2d 38 (1987)

In the Matter of: DONOVAN WIRE & IRON COMPANY, Debtor. Appeal of DONOVAN WIRE & IRON COMPANY.

United States Court of Appeals, Eighth Circuit.

Decided June 30, 1987.

Attorney(s) appearing for the Case

Jerrold Wanek, Des Moines, Iowa and Allan W. Gilbert, Detroit, Mich., for appellant.

F.L. Burnett, II, Des Moines, Iowa, for appellee.

Before LAY, Chief Judge, HEANEY, Circuit Judge, and LARSON, Senior District Judge.

PER CURIAM.

Donovan Wire & Iron Company (Donovan) filed for Chapter 11 bankruptcy at the same time as its wholly owned subsidiary Central Steel Tube Company (Central). Bethlehem Steel Corporation (Bethlehem) sold steel to Central under three guaranties by Donovan for payment. At Donovan's insistence, each of the guaranties expired after one year and was replaced by the next guaranty. Bethlehem timely filed a proof of claim...

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