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The case Border State Bank v. Agcountry Farm Credit Serv., 535 F.3d 779 (8th Cir., 2008) is available to members of PLoL.org.
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535 F.3d 779
BORDER STATE BANK, N.A., Plaintiff-Appellant,
v.
AGCOUNTRY FARM CREDIT SERVICES, FLCA; and AgCountry Farm Credit Services, PCA, Defendants-Appellees.
No. 07-3102.
United States Court of Appeals, Eighth Circuit.
Submitted: May 12, 2008.
Filed: August 1, 2008. Steven Harris Silton, argued, Minneapolis for appellant.
Jon R. Brakke, argued, Caren L. Stanley, on the brief, Fargo, ND, for appellees.
Before WOLLMAN, MURPHY, and SMITH, Circuit Judges.
MURPHY, Circuit Judge.
Border State Bank, N.A. (Bank) brought this action asserting that defendants AgCountry Farm Credit Services, FLCA (FLCA) and AgCountry Farm Credit Services, PCA (PCA) had improperly retained sale proceeds in excess of their secured interests in the property sold and had failed to provide notice to the Bank of the sale and an accounting of the proceeds. The parties filed cross motions for summary judgment, and the district court1 granted defendants' motion. The Bank appeals, and we affirm.
The Bank, PCA, and FLCA all claimed security interests in the assets of Dutch Friendship Farms, L.L.P. (Dutch Farms), a dairy farming operation in Lancaster, Minnesota. The Bank's security interest was established...