Prior to debtor's bankruptcy filing, plaintiff perfected a security interest in several contracts whereby debtor sold interests in recreational property. Under Utah Code Ann. § 70A-9-403(2), a filed financing statement is effective perfection for a period of five years from its filing, but must be re-perfected by filing a continuation statement prior to the end of the perfection period. However, if a security interest is perfected when insolvency proceedings are initiated, the perfection continues until either the perfection period runs, or sixty days after the insolvency proceedings terminate. Debtor's chapter 11 plan was confirmed in June 1984. Approximately five months later, debtor contested plaintiff's secured claim on the ground that plaintiff had not filed a continuation statement in accordance with § 70A-9-403(2). The bankruptcy court ruled in favor of debtor, determining that plaintiff's perfected security interest lapsed sixty days after the effective date of debtor's plan, and plaintiff appealed. The district court affirmed, ruling that a chapter 11 bankruptcy proceeding terminates on the effective date of the confirmed plan, and neither the bankruptcy court's retention of jurisdiction to further litigate the validity or extent of claims, nor a pending objection to the claim in the bankruptcy case, relieved plaintiff of its obligation to file a continuation statement.