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IN RE TAYLORVILLE EISNER AGENCY, INC.

No. S-Bk-75-1538.

445 F.Supp. 665 (1977)

In re TAYLORVILLE EISNER AGENCY, INC., a corporation, Bankrupt. Vernon H. HOUCHEN, Trustee, Plaintiff-Appellee, v. FIRST NATIONAL BANK OF PANA, a corporation, Defendant-Appellant.

United States District Court, S. D. Illinois, S. D.

December 30, 1977.

Attorney(s) appearing for the Case

Vernon H. Houchen, for Trustee.

William H. Amling, Amling & Beyers, Pana, Ill., for defendant-appellant.

W. Scott Murphy, Owen, Roberts, Susler & Taylor, Decatur, Ill., for Jewel Companies, Inc.

Daniel G. Reese, Taylorville, Ill., for Trustee, plaintiff-appellee.

OPINION

J. WALDO ACKERMAN, District Judge.

This is an appeal from an order of the Bankruptcy Judge disallowing a claim of the First National Bank of Pana (First National Bank) as to proceeds of the sale of inventory and merchandise of a bankrupt grocery store. It is necessary to consider, in a case of first impression in this State, the construction to be given Section 9-402(7) of the Illinois Uniform Commercial Code, Ill.Rev.Stat. ch. 26 (hereinafter cited...

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