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FNB OF PICAYUNE v. PEARL RIVER FABRICATORS

No. 2006-CC-2195.

971 So.2d 302 (2007)

FIRST NATIONAL BANK OF PICAYUNE v. PEARL RIVER FABRICATORS, INC.

Supreme Court of Louisiana.

Rehearing Denied January 7, 2008.

Attorney(s) appearing for the Case

Adams and Reese, Thomas Eliot Gottsegen, Martin A. Stern, New Orleans, Patricia Barry McMurray, Baton Rouge, Raymond Peter Ward, New Orleans, for applicant.

Liskow & Lewis, George Denegre, Jr., Katherine Seegers Roth, Thomas E. Schafer, III, Shannon Skelton Holtzman, New Orleans, Miller & Williamson, Ira M. Williamson, for respondent.

Reginald James Laurent, New Orleans, for amicus curiae, E.H. Mitchell & Co., LLC.

KNOLL, Justice.

The difficult issue before us concerns our secured transaction laws pertaining to perfection of a security interest in collateral in one state and the failure to timely re-perfect the security interest in the collateral when the collateral is subsequently sold and moved to Louisiana. This troubling issue presented from these facts is res nova. Simply stately, the issue to be decided concerns the legal consequences which arise when the secured creditor...

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