HELENA AGRI-ENTERPRISES, LLC v. SIMMONS BANK

CourtCourt of Appeals of Arkansas
DecidedOctober 8, 2025
DocketCV-23-353
StatusPublished

This text of HELENA AGRI-ENTERPRISES, LLC v. SIMMONS BANK (HELENA AGRI-ENTERPRISES, LLC v. SIMMONS BANK) is published on Counsel Stack Legal Research, covering Court of Appeals of Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
HELENA AGRI-ENTERPRISES, LLC v. SIMMONS BANK, (Ark. Ct. App. 2025).

Opinion

Cite as 2025 Ark. App. 477 ARKANSAS COURT OF APPEALS DIVISION IV No. CV-23-353

HELENA AGRI-ENTERPRISES, LLC, Opinion Delivered October 8, 2025

F/K/A HELENA CHEMICAL APPEAL FROM THE CROSS COUNTY COMPANY CIRCUIT COURT APPELLANT [NO. 19CV-16-94]

V. HONORABLE CHRISTOPHER W. MORLEDGE, JUDGE SIMMONS BANK; WALTER KEITH LOCKLEY; WALTER KEITH LOCKLEY, JR.; WALTER LOCKLEY PARTNERSHIP; LOCKLEY & SONS, AFFIRMED IN PART; REVERSED AND INC.; WALTER LOCKLEY & SONS; REMANDED IN PART G.L. MORRIS FARMS LIMITED PARTNERSHIP; WILSON FAMILY LIMITED PARTNERSHIP; DEERE & COMPANY; FARM CREDIT SERVICES OF AMERICA, PCA; GREENWAY EQUIPMENT, INC.; JOHN DOE DEFENDANTS NOS. 1–10; AND JANE DOE DEFENDANTS NOS. 1–10

APPELLEES

MIKE MURPHY, Judge

This appeal arises from a summary-judgment order entered in favor of Simmons Bank

against appellant Helena Agri-Enterprises, LLC (Helena). The circuit court ruled as a matter

of law that Simmons’s security interest in the net proceeds held in the registry of the court

from an indebted Cross County farming operation had priority over Helena’s competing security interest. Helena appeals the summary-judgment order, arguing, among other things,

that there remains a genuine issue of material fact about the correct organizational name of

the partnership that was indebted to it. We agree that a genuine issue of material fact

precluded summary judgment on the organizational name of the debtor partnership, and we

reverse and remand. We also address Helena’s argument that the circuit court abused its

discretion in striking its amended complaint, and we affirm that ruling.

I. Background Facts

The underlying facts in this case were recounted at length in our September 28, 2022

opinion, Helena Agri-Enters., LLC v. Simmons Bank, 2022 Ark. App. 374 (Helena I), in which

this court previously dismissed this appeal for lack of a final order. Thus, only a brief

discussion of the factual background is necessary.

This case centers on a Cross County farming operation run by Walter H. Lockley and

his son, Walter Keith Lockley (Keith). In 2000, Keith bought into a family partnership,

Walter Lockley & Sons (WLS), which was farming on land that it had leased on the east side

of Crowley’s Ridge. On March 18, 2010, while still farming on the east side of Crowley’s

Ridge, WLS opened a deposit/checking account with Simmons. For more than five years

beginning in March 2011, Simmons made a series of loans to WLS for farm production and

the purchase of farm equipment. The collateral for these loans included the partnership’s

farm equipment, crops, and government payments. Following each of these loans, Simmons

filed UCC financing statements with the Secretary of State that reported “Walter Lockley &

Sons” as the debtor and Simmons as the secured party.

2 In January 2012, the Lockleys leased 2500 acres on the west side of Crowley’s Ridge

from G.L. Morris Farms, Ltd. (Morris), using the organizational name “Walter Lockley

Partnership” (WLP). That spring, Keith applied for credit with Helena to purchase various

crop inputs, and he identified WLP as the applicant. The credit arrangement between

Helena and WLP continued through 2016. Keith and his father also executed guaranty

agreements in which they personally guaranteed “all present and future account

indebtedness” of WLP. Beginning in May 2015, Helena required WLP to grant a security

interest to secure “payment for the account indebtedness that would be incurred during the

2015 growing season and thereafter.” Helena perfected that security interest by filing a

financing statement with the Secretary of State identifying WLP and Keith as the debtors

and Helena as the secured party. The collateral for that security interest included farm crops,

equipment and inventory, and “all products, proceeds, accessions, replacements,

substitutions, insurance policies, accounts, warehouse receipts, documents, [and]

government payments . . . relating to the [listed] personal property and the real property on

which the farm products are grown or to be grown.”

Beginning in July 2013, Keith, acting on behalf of WLP, also purchased several pieces

of John Deere farm equipment from Greenway Equipment, Inc. (Greenway). WLP executed

security agreements granting John Deere Credit Services (Deere) purchase-money security

interests in the equipment. Deere filed UCC financing statements for each transaction that

identified WLP as the debtor and itself as the secured party. Additionally, Farm Credit

Services of America (FCSA) became involved in the matter when Greenway assigned it the

3 promissory note on a John Deere air cart and air drill that WLP had purchased from

Greenway in 2015. WLP granted FCSA a purchase-money security interest in the equipment

in exchange for FCSA agreeing to finance the purchase price. FCSA filed a UCC financing

statement identifying WLP and Keith Lockley as the debtors.

II. Procedural History

Like the background facts, the procedural history in this case was recounted at length

in Helena I. In August 2016, Helena filed a complaint in the Cross County Circuit Court

against Keith Lockley; Walter Lockley; WLP; Lockley & Sons, Inc.; WLS; Simmons Bank;

G.L. Morris; and the Wilson Family Limited Partnership (Wilson). Helena alleged that WLP,

Walter Lockley, and Keith Lockley (collectively, “the Lockley defendants”) owed

$1,103,935.73 plus future-accruing finance charges pursuant to a credit agreement between

WLP and Helena. It alleged that the Lockley defendants had failed to pay the balance it owed

to Helena. Helena claimed that the Lockley defendants were liable for breach of contract

and owed damages, including the outstanding balance on the credit account, attorneys’ fees,

and postjudgment interest. Helena claimed a perfected security interest in the Lockley

defendants’ crops, equipment, and government payments. It further claimed priority over

any competing creditor’s security interest in the same collateral.1

1 A receiver was appointed to cultivate, harvest, and sell the Lockleys’ 2016 crops. As a result, the proceeds (totaling more than $500,000.00) were deposited into the registry of the court. The Lockleys’ farm equipment was sold at auction, and the net proceeds of that sale (totaling $911,897.50) were deposited into the registry. Finally, $474,942.00 in USDA agricultural-assistance-program funds for 2015 and 2016 were deposited into the registry.

4 Numerous counterclaims and cross-claims by other creditors followed. Importantly,

in September 2016, Simmons filed an answer and a replevin counterclaim (against Helena),

a replevin cross-claim (against Keith Lockley; Walter Lockley; WLP; Lockley & Sons, Inc.;

WLS; Morris; and Wilson), and a replevin third-party complaint (against Deere, FCSA,

Greenway, and twenty John and Jane Doe defendants). Simmons detailed six loans it had

made to WLS from 2011 to 2016 as well as the deposit/checking account that WLS opened

with the bank in March 2010. Simmons alleged that the collateral for each of the loans was

cross-collateralized and that it included, among other things, farm equipment, crop proceeds,

and government payments belonging to WLS. Simmons averred that its perfected security

interest in the collateral for each loan (as shown by UCC financing statements) was prior to

and superior to Helena’s interest and to any interest held by third-party defendants. It

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HELENA AGRI-ENTERPRISES, LLC v. SIMMONS BANK, Counsel Stack Legal Research, https://law.counselstack.com/opinion/helena-agri-enterprises-llc-v-simmons-bank-arkctapp-2025.