Merchants National Bank of Cedar Rapids v. Halberstadt

OXBERGER, Chief Judge.

This appeal is brought by Melbourne Savings Bank (Melbourne) challenging the district court’s ruling in favor of Merchants National Bank of Cedar Rapids (Merchants). Melbourne asserts the district court erred in finding that Merchants’ attachment lien was superior to any security interest Melbourne had in certain coins and pieces of jewelry belonging to the defendants, the Halberstadts. We affirm.

John Halberstadt was indebted to both Melbourne and Merchants. He entered into three security agreements with Melbourne to obtain financing for his meat processing and farming…