Rabo AgriFinance Moves for Partial Summary Judgment Seeking Declaration on Priority of Liens
October 25, 2021, Northern District of Texas – According to Federal Rule of Civil Procedure 56 and Local Rules 7007-1, 7007-2, and 7056-1, Defendant and Counterclaimant Rabo AgriFinance LLC (“Rabo”) moves for summary judgment in its favor, and against Plaintiff and Counterdefendant Lone Star State Bank of West Texas (“Lone Star”), on various claims, causes of action and issues raised in Lone Star’s third amended complaint, and Rabo’s first amended counterclaim.
Rabo’s amended counterclaim and the causes of actions in Lone Star’s third amended complaint all seek declaratory relief regarding the scope and coverage of an inter-creditor agreement (“ICA”) that “Rabo and Lone Star entered into in November of 2014”. Precisely, all claims before the Court rely on the predicate issue of which party held a superior lien on which category of collateral. Through its motion for partial summary judgment, Rabo requests the entry of an order granting summary judgment in its favor.