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Secured Transactions Keyed to Lopucki
The Four County Bank v. Tidewater Equipment Co.
Citation:771 S.E.2d 437 (Ga. Ct. App. 2015)
In June 2003 and November 2005, the Four County Bank provided financing for the purchase of two different pieces of foresting equipment by Shepherd Brothers Timber Company, LLC. The Bank perfected its security interests in both pieces by filing financing statements. While the Bank’s original financing statements were still effective, Shepherd sold both pieces to appellee Tidewater Equipment Company. The Bank then filed a purchase money financing statement as to Shepherd’s 2003 Tigercat Cutter on June 5, 2003 and a purchase money financing statement as to Shepherd’s 2005 Tigercat Skidder. Tidewater resold the used Cutter and Skidder to a third party. In September 2012, the Bank sued Tidewater for trover and conversion.
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