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Secured Transactions Keyed to Lopucki
Dayka & Hackett, LLC v. Del Monte Fresh Produce N.A., Inc.
Citation:
228 Ariz. 533, 269 P.3d 709 (Ariz. App. 2012)Facts
In January 2007, D & H agreed to finance and sell the growers’ 2007 grape crop to be grown in Sonora, Mexico. D & H entered into marketing and security agreements with the growers and it filed a financing statement to perfect its interest. The security agreement granted D & H an interest in any 2007 crops he produced. The growers were unable to repay to D & H what they owed and defaulted. Del Monte, unaware of the relationship between the growers and D & H, advanced the growers funds to produce their 2008 crop. Del Monte entered into a marketing and security agreement with the growers. The growers granted Del Monte a security interest in collateral, which included the 2008 crop. Del Monte marketed the 2008 crop and collected and retained all the sale proceeds. D & H filed a complaint against the growers and Del Monte seeking to enforce its security interest in the growers’ 2008 crop and its proceeds.
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