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FIESTER v. PRODUCTION CREDIT ASS'N

No. 87-1123.

426 N.W.2d 676 (1988)

Richard FIESTER and Richard Ferreter, Executors of the Estate of Leo Burns, Deceased, Plaintiffs-Appellees, v. PRODUCTION CREDIT ASSOCIATION, Defendant-Appellant.

Court of Appeals of Iowa.

May 31, 1988.

Attorney(s) appearing for the Case

William S. Smith, Waterloo, for defendant-appellant.

Robert J. Pattee, Independence, for plaintiffs-appellees.

Heard by HAYDEN, P.J., and SACKETT and HABHAB, JJ.

SACKETT, Judge.

This case addresses the issue of whether a secured creditor loses its priority interest in personal property when the personal property has been levied on by a judgment creditor and the judgment creditor makes a demand for a statement of indebtedness under Iowa Code section 626.42 and the secured creditor fails to furnish to the creditor a statement as to the amount of indebtedness. We hold the failure to furnish a statement of the amount of indebtedness...

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