MATTER OF KAZMIERCZAK

No. 93-3376.

24 F.3d 1020 (1994)

In the Matter of Allen J. KAZMIERCZAK and Carol A. Kazmierczak, Debtors. Appeal of Paul SWANSON, Trustee in Bankruptcy.

United States Court of Appeals, Seventh Circuit.

Decided May 23, 1994.


Attorney(s) appearing for the Case

Michael G. Trewin (argued), New London, WI, for Paul Swanson, successor to the interest of Allen J. Kazmierczak and Carol A. Kazmierczak.

Francis J. Eustice, Gregory J. Fumelle (argued), Eustice, Albert, Laffey & Fumelle, Sun Prairie, WI, for Terra Intern. Inc.

Before POSNER, Chief Judge, and COFFEY and FLAUM, Circuit Judges.


POSNER, Chief Judge.

In 1990 and 1991, the debtors, a farm couple, had bought fertilizer and chemicals for their farm from Terra International on credit secured by their crops. The debtors executed a new security agreement each year, and each year a financing statement was duly filed to perfect Terra's security interest, and each year the debtors paid off their debt to Terra in full by the end of the year. In 1992 Terra again...

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