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Minnwest Bank, M.V. v. Arends
Minnesota Court of Appeals
802 N.W.2d 412 (2011)
- Written by Sheryl McGrath, JD
Facts
Minnwest Bank, M.V. (Minnwest) (plaintiff) obtained a security interest in livestock owned by Chadley Arends (defendant). Four years later, New Vision Co-op (New Vision) (defendant) sold feed for the livestock to Arends and filed a financial statement to perfect an agricultural lien known as a livestock production input lien. In addition, New Vision sent a lien-notification statement to Minnwest. The envelope containing the lien-notification statement did not display the phrase IMPORTANT—LEGAL NOTICE as was required by statute. Subsequently, Minnwest and New Vision both claimed priority as secured creditors in Arends’s property.
Rule of Law
Issue
Holding and Reasoning (Wright, J.)
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