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MATTER OF GREAT WESTERN SUGAR CO.

No. 89-1053.

902 F.2d 351 (1990)

In the Matter of GREAT WESTERN SUGAR COMPANY, Debtor. UNITED STATES of America, On Behalf of COMMODITY CREDIT CORP., Appellant, v. SCOTTSBLUFF NATIONAL BANK & TRUST COMPANY, et al., Appellees.

United States Court of Appeals, Fifth Circuit.

June 1, 1990.

Attorney(s) appearing for the Case

Robert M. Loeb, John F. Cordes, Washington, D.C., Marvin Collins, U.S. Atty., Dallas, Tex., for appellant.

Gerald P. Laughlin, Steven C. Turner, Baird, Holm McEachen, Redersen, Hamann & Strasheim, Omaha, Neb., for Scottsbluff.

Steven R. Smith, Haynes & Boone, Dallas, Tex., for Western Nat'l.

David T. Siegel, FDIC, Omaha, Neb., for FDIC Successor in interest to Bank of Gering & Gering Nat'l Bank, etc.

Before GOLDBERG, POLITZ and JONES, Circuit Judges.

GOLDBERG, Circuit Judge:

Two secured creditors each claimed a superior security interest in the proceeds of a court-ordered sale of sugar processed by the bankrupt Great Western Sugar Company ("Great Western"). The security interest of one creditor, the Commodity Credit Corporation, (the "CCC"), a federal agency within the Department of Agriculture, arose in connection with Great Western's default on nonrecourse loans made by the CCC. The CCC loaned money to Great...

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