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IN RE WESTERN IOWA LIMESTONE, INC.

No. 06-6068NE.

375 B.R. 518 (2007)

In re WESTERN IOWA LIMESTONE, INC., Debtor. United Bank of Iowa, Appellant, v. Independent Inputs, et al., Appellees.

United States Bankruptcy Appellate Panel of the Eighth Circuit.

Filed: March 19, 2007.

Attorney(s) appearing for the Case

James J. Niemeier, Omaha, NE, Robert J. Bothe, on brief, Omaha, NE, for appellant.

Kirk E. Goettsch, Council Bluffs, IA, for appellee.

Before KRESSEL, Chief Judge, SCHERMER and VENTERS, Bankruptcy Judges.

VENTERS, Bankruptcy Judge.

This appeal involves a contest between a secured creditor and three would-be buyers in the ordinary course of business over the proceeds from the sale of several tons of agricultural lime. The bankruptcy court first awarded the proceeds to the secured creditor, but then reversed course and awarded the proceeds to the buyers. For the reasons set forth below, we reverse the decision of the bankruptcy court.1

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