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1ST SOURCE BANK v. WILSON BANK & TRUST

No. 13-5088.

735 F.3d 500 (2013)

1ST SOURCE BANK, Plaintiff-Appellant, v. WILSON BANK & TRUST; TransCapital & Leasing, Inc.; Pinnacle Bank, Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

November 7, 2013.

Attorney(s) appearing for the Case

ON BRIEF: Wilson C. Von Kessler II , Markel & Major, Chattanooga, Tennessee, for Appellant.

T. Price Thompson III , David B. Foutch , Rochelle, McCulloch & Aulds, PLLC, Lebanon, Tennessee, for Appellee Wilson. Roy C. DeSha, Jr. , Desha/Watson, PLLC, Nashville, Tennessee, for Appellee TransCapital. Scott C. Williams , Rudy, Wood, Winstead, Williams & Hardin, PLLC, Nashville, Tennessee, for Appellee Pinnacle.

Before: KEITH and SUTTON, Circuit Judges; BLACK, District Judge.

OPINION

DAMON J. KEITH, Circuit Judge.

This appeal presents a single question of first impression under Tennessee law: whether the term "proceeds" as used in a company's financing statement includes its accounts receivable. The district court found that it does not. For the reasons set forth below, we AFFIRM.

I. BACKGROUND

The uncontroverted facts in this case are as follows. Beginning in late 2004, 1st Source Bank ("1st Source...

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