Case Law Index
Secured Transactions
January 1, 2002 - August 1, 2008
This index provides a comprehensive though not necessarily exhaustive compilation of reported and unreported federal and state court decisions involving Secured Transactions that were decided on or after January 1, 2002. For those cases that have been summarized by the National Agricultural Law Center, a link is provided to the summary. The index will be regularly updated to reflect new judicial developments. The cases are listed in reverse chronological order.
FIRST CIRCUIT
U.S. v. Arnold, 366 F.Supp.2d 191 (D.Me. 2005) (foreclosure on mortgages and security agreements)
SECOND CIRCUIT
In re Perosio, 364 B.R. 868 (N.D.N.Y. 2006) (filing of lis pendens and transfer of mortgages under Chapter 12)
In re R.F. Cunningham & Co., Inc., 355 B.R. 408 (Bankr.E.D.N.Y. 2006) (statutory lien encumbering agricultural commodity assets)
In re Clayson, 341 B.R. 137 (Bankr.W.D.N.Y. 2006) (perfection of lien; preferential payment)
Zink v. Vanmiddlesworth, 300 B.R. 394 (N.D.N.Y. 2003) (adequate protection of a purchase money security interest in cattle)
FOURTH CIRCUIT
Dean v. Hall, No. 3:02CV728, 2003 WL 21650145 (E.D.Va. Feb. 25, 2003) (priority of competing claims for agricultural commodities)
FIFTH CIRCUIT
Peoples Bank v. Bryan Bros. Cattle Co., 504 F.3d 549 (5th Cir. 2007) (validity of financing statement; property sold subject to security interest)
Rabo Agrifinance, Inc. v. Terra XXI Ltd., No. 2:06-CV-153-J, 2007 WL 2446278 (N.D. Tex. Aug. 29, 2007) (foreclosure of security interest)
Lone Star Milk Producers, Inc. v. Litzler, 370 B.R. 671 (Bankr.N.D.Tex. 2007) (statutory trusts for dairy cooperatives)
Regions Bank v. Mills, No. 06-0565, 2006 WL 2193202 (W.D.La. Aug. 01, 2006) (security interest in post-petition farm subsidy payments)
In re Spears, 352 B.R. 83 (Bankr.N.D.Tex. 2006) (assignment of rents clause as an absolute security agreement)
Bryan Bros. Cattle Co. v. Glenbrook Cattle Co., LLC, No. 2:4CV139SAA, 2006 WL 1233069 (N.D.Miss. May 01, 2006) (effective financing statements)
Bryan Bros. Cattle Co. v. Glenbrook Cattle Co., LLC, No. 2:4CV139SAA, 2005 WL 2250832 (N.D.Miss. Sept. 15, 2005) (effective financing statements)
Seward v. U.S. Dept. of Agriculture, 229 F.Supp.2d 557 (S.D.Miss. 2002) (setoff by Department of Ag for past due loan)
SIXTH CIRCUIT
In re Hollingshead, 286 B.R. 622 (B.A.P. 6th Cir. 2002) (state ag department lien)
In re Parks Planting Co., Nos. Civ. 01-1298, 00-12467-GHB, 01-5048, 2002 WL 1397250, (W.D. Tenn. June 5, 2002) (priority dispute over crops and crop proceeds)
SEVENTH CIRCUIT
In re Phillips, No. 05-87521, 2007 WL 4179845 (Bankr. C.D. Ill. Nov. 20, 2007) (trading-in collateral has no effect on security interest)
In re Phillips, Bankruptcy No. 05-87521, 2007 WL 2122405 (Bankr.C.D.Ill. July 20, 2007) (validity of financing statements when debtors incorporate)
In re Bennett, 293 B.R. 760 (Bankr. C.D.Ill. 2003) (intent to harm lender with security interest)
In re Grabowski, 277 B.R. 388, 392 (Bankr. S.D. Ill. 2002) (description of collateral)
EIGHTH CIRCUIT
In re Damrow Cattle Co., Inc., No. 01-80266, 2008 WL 1775205 (Bankr. D. Neb. Apr. 15, 2008) (lien priority)
In re Zych, 379 B.R. 857 (Bankr. D. Minn. 2007) (commercial tort claims)
Border State Bank, N.A. v. AgCountry Farm Credit Serv., FLCA, No. 06-2611 (JNE/RLE), 2007 WL 2320538 (D. Minn. Aug. 10, 2007) (existence of security interest)
In re Western Iowa Limestone, Inc., 375 B.R. 518 (8th Cir.BAP (Neb.) 2007) (constructive possession for priority purposes)
U.S. v. Neff, No. 4:05-CV-128, 2007 WL 776532 (D.N.D. March 12, 2007) (failure to cross-collateralize mortgages)
In re Curtis, 363 B.R. 572 (Bankr.E.D.Ark. 2007) (attachment and perfection of a security interest)
In re Bates, Bankruptcy No. 05-07616, 2007 WL 473732 (Bankr.S.D.Iowa Feb. 01, 2007) (disposition of collateral crop)
Velde v. Reinhardt, 366 B.R. 894 (D.Minn. 2007) (contemporaneous exchange for new value and third party release of a security interest)
In re Hintzman, No. 05-61378, 2007 WL 80964 (Bankr.D.Minn. Jan. 08, 2007) (liens on tools of the trade)
Bank of Bentonville v. Wacross, Inc., No. 01-5130-CV-SW-SWH, 2006 WL 2850566 (W.D.Mo.Sept. 29, 2006) (security agreements and where they are enforceable)
U.S. v. Schwandt Bros., No. CIV 04-3022, 2006 WL 2171060 (D.S.D. July 28, 2006) (security interest in chattels)
In re Vaske, 339 B.R. 489 (Bankr.N.D.Iowa 2006) (lien priority and avoidance)
U.S. v. Miller, 395 F.Supp.2d 875 (D.N.D. 2005) (proceeds from secured goods)
MidWestOne Bank and Trust v. Commercial Federal Bank, 331 B.R. 802 (S.D.Iowa 2005) (security interest in cattle at a feedlot)
In re Rogers Hog Farms Co., Inc., No. BK02-43097, 2005 WL 3199673 (Bankr. D.Neb. August 26, 2005) (priority of liens on crop proceeds)
In re Owens, 322 B.R. 411 (Bankr. E.D. Ark. 2005) (dischargeability of debt; intent to deceive)
In re Aspen Dairy, No. BK04-41304, 2005 WL 2547111 (Bankr.D.Neb. Feb. 14, 2005) (pre-petition security agreement and post-petition proceeds)
In re Buehne Farms, Inc., 321 B.R. 239 (Bankr. S.D. Ill. 2005) (nature of lease agreement)
In re Thompson, 315 B.R. 94 (Bankr.W.D.Mo. 2004) (selling the collateral of a security agreement)
In re Gaylord Grain LLC, 306 B.R. 624, (B.A.P. 8th Cir. 2004) (avoidance of lien)
Farm Credit Midsouth, PCA v. Farm Fresh Catfish Co., 371 F.3d 450 (8th Cir. 2004) (federal farm products rule)
In re Stevens, 307 B.R. 124 (Bankr.E.D.Ark.2004) (unperfected security interest)
In re Damrow Cattle Co., Inc., 300 B.R. 479 (Bankr.D.Neb. 2003) (attachment and perfection of security interests in cattle)
In re Michels, 301 B.R. 9 (Bankr.N.D.Iowa 2003) (security interest in livestock herd)
In re Toombs, No. 3:01-BK-30784M, 2002 WL 32115829 (Bankr.E.D.Ark. Sept. 25, 2002) (security interest in farm subsidy payments)
FarmPro Services, Inc. v. Brown, 276 B.R. 620 (D.N.D. 2002) (security interest in post-petition crop insurance payments)
In re Masters, 273 B.R. 773 (Bankr. E.D. Ark. 2002) (perfected security interest retained)
In re Davis, 274 B.R. 825 (Bankr. W.D. Ark. 2002) (creditor unperfected)
NINTH CIRCUIT
Bair v. Pacific Northwest Sugar Co. LLC, 85 Fed.Appx. 555, 2004 WL 68750 (C.A.9 (Wash.)) (priority of statutory liens)
In re Stallings, 290 B.R. 777 (Bankr.D.Idaho 2003) (security interest in post-petition disaster payments)
In re Thiara, 285 B.R. 420 (9th Cir.BAP (Cal.) 2002) (security interest in crop insurance proceeds)
TENTH CIRCUIT
In re Green, 355 B.R. 302 (Bankr.E.D.Okla. 2006) (impermissible sale of collateral)
In re Troupe, 340 B.R. 86 (Bankr.W.D.Okla. 2006) (perfection of security interests)
In re Ladd, Bankruptcy No. 04-73669, 2006 WL 4470829 (Bankr.E.D.Okla. Jan. 03, 2006) (security interests in the sale of collateral)
In re Hagedorn, No. 02-40505, 2004 WL 2040909 (Bankr.D.Kan. May 20, 2004) (effect of default on second mortgage's other security interests)
In re Klenke, No. 01-13051, 02-5016, 2004 WL 2192517 (Bankr. D. Kan. Feb. 3, 2004) (property of the estate)
In re Ellis, 310 B.R. 762 (Bankr.W.D.Okla. 2004) (security agreement language)
In re Stout, 284 B.R. 511 (Bankr.D.Kan. 2002) (pre-Revised Art. 9 security interest)
In re Diel, 277 B.R. 778 (Bankr. D. Kan. 2002) (false financial statements)
ELEVENTH CIRCUIT
In re John's Beans Farm of Homestead, Inc., 378 B.R. 385 (Bankr. S.D. Fla. 2007) (financing statement seriously misleading)
In re Bracewell, 454 F.3d 1234 (C.A.11 (Ga.) 2006) (disaster payments as proceeds of a secured interest in the crop)
In re Bracewell, 310 B.R. 472 (Bankr. M.D. Ga. 2004) (property of the estate)
In re Gordon, 293 B.R. 817 (Bank. M.D. Ga. 2003) (imputation of fraud)
ARKANSAS
Searcy Farm Supply, LLC v. Merchants & Planters Bank, 369 Ark. 487, --- S.W.3d ----, 2007 WL 1290246 (Ark.2007) (agricultural liens and priority)
Fordyce Bank & Trust Co. v. Bean Timberland, Inc., --- S.W.3d ----, 2007 WL 615115 (Ark. 2007) (sale of collateral)
Stokes v. Farmers Grain Terminal, Inc., No. CA 05-763, 2006 WL 2879451 (Ark.App. Oct. 11, 2006) (security interests in crops)
Nef v. Ag Services of America, Inc., 86 S.W.3d 4 (Ark.App. 2002) (priority dispute)
CALIFORNIA
Frazier Nuts, Inc. v. American AG Credit, 46 Cal.Rptr.3d 869 (Cal.App. 5 Dist. 2006) August 02, 2006 (statutory producer's lien)
COLORADO
Premier Farm Credit, PCA v. W-Cattle, LLC, 155 P.3d 504 (Colo.App. 2006) (validity of a mortgage)
GEORGIA
BITT Intl. Co., Inc. v. Fletcher, 577 S.E.2d 276 (Ga.App. 2003) (foreclosure on lien)
ILLINOIS
Schweickert v. AG Services of America, Inc., 823 N.E. 2d 213 (Ill. Ct. App. 2005) (retroactive application of Article 9)
Czerkies v. AG Acceptance Corp., 820 N.E.2d 1133 (Ill.App. 3 Dist. 2004) (priority of statutory landlord lien)
INDIANA
Troxel Equipment Co. v. Limberlost Bancshares, 833 N.E.2d 36 (Ind.App. 2005) (priority of lien)
IOWA
Iowa State Bank & Trust Co. v. Michel, 683 N.W.2d 95 (Iowa 2004) (mortgage on agricultural land)
KANSAS
Sunflower Bank, N.A. v. Kindsvater, 144 P.3d 81 (Kan.App. 2006) (release of liens)
Burris v. Thompson, 119 P.3d 1187 (Kan.App. 2005) (good faith purchaser of collateral)
Guaranty State Bank & Trust Co. v. Van Diest Supply Co., 55 P.3d 357 (Kan. Ct. App. 2002) (priority dispute)
LOUISIANA
Community Trust Bank v. First Nat. Bank, 924 So.2d 498 (La.App. 2 Cir.2006) (priority of liens)
MICHIGAN
Springing Acres, Inc. v. Michigana Holsteins, Inc., No. 259779, 2006 WL 2035435 (Mich.App. 2006) (security interest in leased property)
MINNESOTA
Fin Ag, Inc. v. Hufnagle, Inc., 700 N.W.2d 510 (Minn. App. 2005) (conversion of collateral)
Border State Bank of Greenbush v. Bagley Livestock Exchange, Inc, 690 N.W.2d 326 (Minn.App. 2004) (conversion of collateral)
American State Bank of Olivia v. Ladwig & Ladwig, Inc., 646 N.W.2d 241, 242 (Minn. Ct. App. 2002) (interest in farm equipment)
MISSISSIPPI
McClatchy v. Anthony Farms, 936 So.2d 456 (Miss.App. 2006) (crop liens as a surety)
MISSOURI
Mercantile Bank, N.A. v. Loy, 77 S.W.3d 93, 93, 96 (Mo. Ct. App, 2002) (guarantor liability; bad faith)
MONTANA
Stipe v. First Interstate Bank - Polson, 2008 MT 239 (Mont. 2008) (repossession of secured collateral)
Stockman Bank of Mont. v. Mon-Kota, Inc., 180 P.3d 1125 (Mont. 2008) (validity of lien)
1st Bank v. Winderl, 60 P.3d 998, 1001-02 (Mont. 2002) (wrongful possession)
NEBRASKA
Clif-Tex Land & Livestock, Inc. v. First Dakota Nat'l Bank, N.A., No. A-07-1351, 2008 WL 2930203 (Neb. Ct. App. July 29, 2008) (unjust enrichment)
NORTH DAKOTA
Stockman Bank of Montana v. AGSCO, Inc., 728 N.W.2d 142 (N.D. 2007), partially overruled by Stockman Bank of Montana v. AGSCO, Inc., 727 N.W.2d 742 (N.D. 2007) (lien priority)
Stockman Bank of Montana v. AGSCO, Inc., 727 N.W.2d 742 (N.D. 2007) (lien priority)
SOUTH DAKOTA
Fin-Ag, Inc. v. Pipestone Livestock Auction Mkt., Inc., 2008 SD 48 (S.D. 2008) (conversion of collateral)
Fin-Ag, Inc. v. Cimpl's Inc., 2008 SD 47 (S.D. 2008) (conversion of collateral; failure to remit collateral proceeds)
Fin-Ag, Inc. v. Feldman Bros., 740 N.W.2d 857 (S.D. 2007) (validity of security interest)
Baldwin v. Castro County Feeders I, Ltd., 678 N.W.2d 796 (S.D.2004) (right to proceeds)
American Bank & Trust v. Shaull, 678 N.W.2d 779 (S.D. 2004) (lien priority)
Consolidated Nutrition, L.C. v. IBP, Inc., 669 N.W.2d 126 (S.D. 2003) (right to setoff)
First Nat. Bank of Philip v. Temple, 642 N.W.2d 197 (S.D. 2002) (validity of a lien)
TENNESSEE
Chattanooga Agricultural Ass'n v. Sapp, No. E-2003-01984-COA-R3-CV, 2004 WL 1434504 (Tenn.Ct.App. June 25, 2004) (lien priority)
TEXAS
LaSalle Bank Nat'l Ass'n v. White, 246 S.W.3d 616 (Tex. 2007) (lien on homestead designated for agricultural use)
LaSalle Bank Nat. Ass'n v. White, 217 S.W.3d 573 (Tex.App.-San Antonio 2006) (validity of lien)
First Nat. Bank in Munday v. Lubbock Feeders, L.P., 183 S.W.3d 875 (Tex.App.-Eastland 2006) (purchase money security interest)
First Valley Bank of Los Fresnos v. Martin, 144 S.W.3d 466 (Tex. 2004) (conversion of collateral)
WASHINGTON
Western Farm Service, Inc. v. Olsen, 90 P.3d 1053 (Wash.2004) (conversion of collateral)
WISCONSIN
CIT Group Equip. Fin., Inc. v. FRS Farms, Inc., 745 N.W.2d 88, 2007 WL 4441052 (Wis. Ct. App. 2007) (sale of secured property was commercially reasonable)