Ag Resource Management LLC v. Southern Bank

Filing 53

JUDGMENT consistent with 52 Opinion and Order it is considered, ordered, and adjudged that Plaintiff's 32 Motion for Partial Summary Judgment is granted. Judgment is entered in favor of AG Resource Management LLC against Southern Bank for th e sum of $119,397.32, plus prejudgment interest of $11,633.36, together with post-judgment interest at the rate of 1.22% per annum until paid, along with Plaintiff's costs of $400 for the filing fee and $50 for the ser vice fee, for all or which execution may issue. It is further ordered and adjudged that Defendant's 38 Cross Motion for Summary Judgment is granted in part and denied in part. Count II of the complaint is dismissed because the claim for common law conversion has been displaced by the Uniform Commercial Code. The remainder of the Cross-Motion for Summary Judgment is denied. Signed by Judge J. Leon Holmes on 7/7/2017. (jak)

IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
JONESBORO DIVISION
AG RESOURCE MANAGEMENT, L.L.C.

v.

PLAINTIFF

3:16-CV-00276 JLH/PSH

SOUTHERN BANK

DEFENDANT

SOUTHERN BANK

THIRD PARTY PLAINTIFF

v.
B.C. FARMS LLC and
BODDY G. CLAUSE

THIRD PARTY DEFENDANTS
JUDGMENT

Consistent with the Opinion and Order entered on June 26, 2017 (Doc. # 52), it is
considered ORDERED and ADJUDGED that Plaintiff's Motion for Partial Summary
Judgment (Doc.# 32) is GRANTED. Judgment is entered in favor of Plaintiff AG Resource
Management, L.L.C., against Southern Bank for the sum of $119,397.32, plus prejudgment
interest of $11,633.36, together with post-judgment interest at the rate of 1.22% per annum
until paid, along with Plaintiff's costs of $400 for the filing fee and $50 for the service fee,
for all or which execution may issue.
It is further ORDERED and ADJUDGED that Defendant's Cross-Motion for

Summary Judgment (Doc.# 38) is GRANTED IN PART and DENIED IN PART. Count II
of the complaint is dismissed because the claim for common law conversion has been
displaced by the Uniform Commercial Code. The remainder of the Cross-Motion for
Summary Judgment is DENIED.

IT IS SO ADJUDGED This 1!±_ day of

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,2017

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Approved as to Form Only:

/s/ Harry S. Hurst, Jr.
Harry S. Hurst, Jr. (88116)
Parker Hurst & Burnett PLC
3000 Browns Lane
PO Box 1733
Jonesboro, AR 72403
Tel: [phone]
Fax:[phone]
[e-mail]
Counsel for Plaintiff

/s/ Jason C. Smith
Jason C. Smith AR #2006103
SPENCER FANE LLP
2144 E. Republic Road, Suite B300
Springfield, MO 65804
Tel: [phone]
Fax:[phone]
[e-mail]
Attorneys for Defendant

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