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MIDWESTONE BANK v. HEARTLAND CO-OP

No. 19-1302.

941 N.W.2d 876 (2020)

MIDWESTONE BANK, Appellee, v. HEARTLAND CO-OP, Appellant. Heartland Co-op, Counterclaim Plaintiff, v. MidWestOne Bank, Counterclaim Defendant.

Supreme Court of Iowa.

Filed April 17, 2020.

Attorney(s) appearing for the Case

Johannes H. Moorlach and Peter J. Chalik of Whitfield & Eddy, P.L.C., Des Moines, for appellant.

Matthew L. Preston and Cara L. Roberts of Brady Preston Gronlund PC, Cedar Rapids, and H. Raymond Terpstra II of Terpstra & Epping, Cedar Rapids, for appellee.

Douglas E. Gross , John D. Hunter , Margaret A. Hibbs , and Ingrid M. Johnson of Brown, Winick, Graves, Gross, Baskerville and Schoenebaum, P.L.C., Des Moines, for amicus curiae Agriculture Legal Defense Fund.

Debra Hulett and Haley Hermanson of Nyemaster Goode, P.C, Des Moines, for amicus curiae Iowa Institute for Cooperatives.

Robert L. Hartwig of Iowa Bankers Association, Johnston, and Julie Johnson McLean of Davis Brown Law Firm, Des Moines, for amicus curiae Iowa Bankers Association.

In this appeal, we must adjudicate competing claims by a secured lender and a grain elevator over the costs of storing and drying grain. Each side is supported by amici curiae briefs filed by trade organizations warning of dire consequences of an unfavorable resolution. All agree that the drying and storage costs were necessary...

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