AG Resource Management, LLC. and Agrifund, LLC v. Bunge North America, Inc. and Danny Allen Dickerson

CourtLouisiana Court of Appeal
DecidedMarch 4, 2020
Docket53,417-CA
StatusPublished

This text of AG Resource Management, LLC. and Agrifund, LLC v. Bunge North America, Inc. and Danny Allen Dickerson (AG Resource Management, LLC. and Agrifund, LLC v. Bunge North America, Inc. and Danny Allen Dickerson) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
AG Resource Management, LLC. and Agrifund, LLC v. Bunge North America, Inc. and Danny Allen Dickerson, (La. Ct. App. 2020).

Opinion

Judgment rendered March 4, 2020. Application for rehearing may be filed within the delay allowed by Art. 2166, La. C.C.P.

No. 53,417-CA

COURT OF APPEAL SECOND CIRCUIT STATE OF LOUISIANA

*****

AG RESOURCE Plaintiffs-Appellees MANAGEMENT, LLC. AND AGRIFUND, LLC versus

BUNGE NORTH AMERICA, INC. Defendants-Appellants AND DANNY ALLEN DICKERSON *****

Appealed from the Sixth Judicial District Court for the Parish of Tensas, Louisiana Trial Court No. 23,971 Division “A”

Honorable Michael E. Lancaster, Judge

WIENER, WEISS & MADISON Counsel for Defendant- By: R. Joseph Naus Appellant Bunge North Patrick L. McCune America, Inc.

HUSCH BLACKWELL, LLP By: Marshall C. Turner Jamie H. Steiner

DANNY ALLEN DICKERSON In Proper Person

BREITHAUPT, DUBOS & WOLLESON, LLC Counsel for Plaintiffs- By: Michael L. Dubos Appellees Ag Resource K. Lamar Walters, III Management, LLC & Agrifund, LLC

Before MOORE, McCALLUM, and THOMPSON, JJ. MOORE, J.

Bunge North America appeals a judgment that denied its motion for

summary judgment and allowed the plaintiffs, Ag Resource Management

LLC and Agrifund LLC, to pursue their claim of wrongful conversion. The

plaintiffs have filed a motion to dismiss the appeal. For the reasons

expressed, we deny the motion to dismiss, convert the appeal to a writ

application, deny the writ, and remand the case for further proceedings.

FACTUAL BACKGROUND

The original lender was Ag Resource Management of Louisiana

(“ARM”), which later assigned its assets to Agrifund LLC. In March 2015,

ARM granted a crop loan to Radar Ridge Planting Co., a farming company

that operated in Morehouse, Franklin and Richland Parishes. Radar Ridge,

through its president, Tommy Dickerson, executed a promissory note (“the

2015 note”) for $2,683,002, to come due on December 15, 2015. Radar

Ridge also executed an Agricultural Security Agreement (“ASA”) which

granted a security interest in its 2015 corn crop, wherever located, for “any

and all present and future loans, loan advances, extensions of credit and/or

other financial accommodations” from the lender, with “a continuing

security interest in the Collateral * * * to secure any and all present and

future indebtedness as may be outstanding from time to time[.]” ARM filed

a UCC-1F financial statement, which described the collateral as “all crops

grown in [Louisiana] together with all present and future FSA payments.”

Radar Ridge booked its 2015 corn crop with Bunge, which operated a

grain storage facility in Tensas Parish. According to the ASA and UCC-1F,

ARM’s security followed the corn into Bunge’s silos. In August 2015, someone at Bunge altered the 79 grain storage

tickets, scratching out the name “Radar Ridge” and handwriting in “Danny

Dickerson,” Tommy Dickerson’s father. Bunge then issued a check, for

$347,217, made out jointly to Danny Dickerson and to Winnsboro State

Bank & Trust, completely ignoring ARM’s security interest.

In September 2015, ARM assigned its assets, including the 2015 note

and ASA, to Agrifund.

In December 2015, the 2015 note matured. Agrifund alleged that in

January 2016, Tommy Dickerson approached its officers about transferring

the crop loan to a crop storage loan. Agrifund now concedes that owing to

constraints from its own lender, Capital One, it could not simply extend the

maturity date of the 2015 note; the borrower’s only options were to pay off

the note, or to execute a new note on the crop storage loan, and Dickerson

chose the latter.

In January 2016, Radar Ridge executed a new promissory note (“the

2016 note”), for $3,002,940, to come due on June 15, 2016. Radar Ridge

also executed a new ASA, and Agrifund filed another UCC-1F. Most of the

proceeds of the 2016 note were applied to pay off the 2015 note; statements

sent from ARM to Radar Ridge showed a zero balance on the 2015 note.

In February 2016, Agrifund sent employees to Bunge’s facility for a

periodic inspection of the bins that were supposed to be holding Radar

Ridge’s corn. They found, however, that the bins were empty, and at this

time Agrifund realized that its collateral had been sold.

Radar Ridge did not pay the 2016 note when it came due.

2 PROCEDURAL HISTORY

Agrifund and ARM filed this suit in February 2016 against Bunge and

Danny Dickerson. They alleged that the defendants converted their

collateral, the 2015 corn crop, that was subject to the plaintiffs’ security

interest. Discovery was extensive, and resulted in an October 2017

nondisclosure agreement wherein several exhibits were placed under seal.

Bunge filed this motion for summary judgment in August 2018. It

contended that Agrifund could not prove any damages because (1) the 2015

note had been paid in full, with the proceeds of the 2016 note, and (2) a

novation had occurred, whereby all accessory obligations of the 2015 note

were extinguished when that note was novated in favor of the 2016 note. It

argued that any time “a debtor contracts a new debt to his creditor, which

new debt is substituted for an old one, which is extinguished, novation

occurs,” Scott v. Bank of Coushatta, 512 So. 2d 356 (La. 1987), and once the

principal obligation is extinguished, all accessory obligations are also

extinguished. In support, it attached 15 exhibits, including depositions of

Agrifund’s CEO, Brad Terral, and regional risk manager, Robby Miller, who

stated that they could not extend the 2015 note, owing to an agreement with

their own lender, Capital One, so they issued the 2016 note to pay it off.

Bunge also attached Exhibit 38, the transcript of a June 2018 hearing on a

motion to compel, in which Agrifund’s counsel allegedly conceded that the

2015 note was paid in full with the proceeds of the 2016 note.

Agrifund opposed the MSJ, arguing that there was no novation: the

2016 note was a “mere modification of an obligation” or “a new writing,”

which La. C.C. art. 1881 defines as not novation. It quoted the ASA (“any

and all present and future loans” and “present and future indebtedness”) and 3 argued that this expressed the consent of the debtor to transfer the security to

a new obligation, as allowed by La. C.C. art. 1884. Agrifund also offered

the affidavits of Terral and Miller, under seal; these stated that the purpose

of the 2016 note was to extend the maturity date for the 2015 note.

ACTION OF THE DISTRICT COURT

The matter came for a hearing in September 2018. Agrifund moved

to strike Exhibit 38 on grounds that a transcript is not allowable summary

judgment evidence, La. C.C.P. art. 966 A(4); the court granted this. Bunge

did not object to the Terral and Miller affidavits filed by Agrifund.

At the close of the hearing, the court conceded that it initially thought

the first loan was paid off, there was a novation, and thus the ASA was

extinguished. However, after hearing the arguments, the court found the

matter “not so clear,” and felt it must go to trial. The court therefore denied

the motion for summary judgment, and later signed a judgment designating

this as final and immediately appealable, under La. C.C.P. art. 1915 B.

Bunge took this appeal, designating five assignments of error.

Agrifund and ARM filed a motion to dismiss the appeal on grounds that the

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AG Resource Management, LLC. and Agrifund, LLC v. Bunge North America, Inc. and Danny Allen Dickerson, Counsel Stack Legal Research, https://law.counselstack.com/opinion/ag-resource-management-llc-and-agrifund-llc-v-bunge-north-america-inc-lactapp-2020.