Star Automotive was a wholesaler of automotive parts. Thriftway Auto Supply was an auto parts store that did business under the name Thriftway Auto Stores. Star sold auto parts, on credit, to Thriftway and took a security interest in all of Thriftway’s inventory, accounts, furniture, and equipment. Star filed a financing statement with the Oklahoma County Clerk, identifying the debtor as Thriftway Auto Stores. Eighteen months later, Citizens National Bank loaned Thriftway money, based on the same collateral that Star had secured. Before granting the loan, Citizens asked the County Clerk to search for any financing statements under the name Thriftway Auto Supply. When the search revealed no other security interests, Citizens extended the loan and then filed its own financing statement.

Thriftway, of course, went bankrupt. Star claimed all rights in Thriftway’s goods, but Citizens disputed the assertion, arguing that Star’s filing had been defective and therefore gave it no rights. The trial court gave summary judgment for Star, and Citizens appealed. 

Questions:

Was Star’s filing adequate?