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OYENS FEED & SUPPLY, INC. v. PRIMEBANK

No. 11-0532.

808 N.W.2d 186 (2011)

OYENS FEED & SUPPLY, INC., Appellant, v. PRIMEBANK, Appellee.

Supreme Court of Iowa.

December 30, 2011.

Attorney(s) appearing for the Case

Joel D. Vos , Lance D. Ehmcke , and Jacob B. Natwick of Heidman Law Firm, L.L.P., Sioux City, and A. Frank Baron of Baron, Sar, Goodwin, Gill & Lohr, Sioux City, for appellant.

John A. O'Brien and Brian P. Gaffney of Snell & Wilmer, L.L.P., Denver, Colorado, and Charles L. Smith and Aimee L. Lowe of Telpner, Peterson, Smith, Ruesch, Thomas & Simpson, LLP, Council Bluffs, for appellee.

Eldon L. McAfee , Mark C. Feldmann , and Julia L. Vyskocil of Beving, Swanson & Forrest, P.C., Des Moines, for amicus curiae Iowa Institute for Cooperatives.

WATERMAN, Justice.

We are asked to interpret an Iowa statute enacted in the depths of the 1980s farm crisis to help debt-laden farmers buy livestock feed on credit to continue operations. Our answer is sought to resolve a dispute between two creditors in a bankruptcy proceeding with competing liens on the same hogs. A hog producer with outstanding loans to Primebank went deeper into debt by purchasing feed on credit from Oyens Feed & Supply to fatten the hogs...

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