Bank of Holmen v. Ruf (In Re Ruf)

MEMORANDUM DECISION

ROBERT D. MARTIN, Bankruptcy Judge.

In this adversary proceeding the court is asked to determine the priority of two creditors each claiming a security interest in the proceeds of debtor’s crops. The Bank of Holmen (“Bank”) made a loan to the debtor Richard Ruf, enabling him to plant his 1981 crops. The Bank took a security interest in the crops, and on June 9, 1981 the Bank filed a financing statement in La Crosse County. In September of 1981 Barlow Chemical and Fertilizer (“Barlow”) took a security interest in the crops growing on the same land, and filed its financing…