Read Rabo Agrifinance Inc. v. Terra XXI LTd., 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.

Appellate Information

• Decided 09/23/2009
• Published 09/23/2009

Judges

• EDITH H. JONES, Chief Judge:, Before JONES, Chief Judge, and WIENER and BENAVIDES, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellees:
  
• Barbara Whiten Balliette (argued), Clifford Hugh Walston (argued), Diamond, McCarthy, Taylor, Finley & Lee, L.L.P., Austin, TX, for Plaintiffs-Appellees., Frederick Leighton Durham, III (argued), Kirk Louis Pittard, Cheyenne J. Robertson, Durham & Pittard, LLP, Dallas, TX, for Defendants-Appellants.