Rabo Agrifinance Inc. v. Terra XXI Ltd., No. 08-10143 - - U.S. Fifth Circuit
U.S. Fifth Circuit - The FindLaw 5th Circuit Court of Appeals Opinion Summaries Blog

Rabo Agrifinance Inc. v. Terra XXI Ltd., No. 08-10143

In an action seeking to foreclose on plaintiff's security interests in loan collateral, district court's order allowing the foreclosure is affirmed where: 1) collateral estoppel precluded defendants from raising the statute of limitations; 2) plaintiff would be prejudiced by a subrogation that would allow one defendant to compete on an equal or superior footing for the secured interest in the irrigation equipment at issue; and 3) plaintiff was entitled to attorney's fees under the debt contracts between the parties.

Read Rabo Agrifinance Inc. v. Terra XXI Ltd., No. 08-10143

Appellate Information

Filed September 22, 2009

Judges

Opinion by Judge Jones