Sears Mortgage Corp. v. Leeds Building Products, Inc.

Ruffin, Judge.

Sears Mortgage Corporation and other plaintiffs (“Sears plaintiffs”) including Albert Weiblen (collectively “plaintiffs”) purchased or financed purchases of homes (“properties”) from residential builder Peach Communities, Inc. (“Peach”). Peach built the properties with construction materials purchased on credit from Leeds Building Products, Inc. (“Leeds”). In connection with the credit transactions, Peach executed security deeds on each of the properties to serve as collateral for the construction materials purchased for each home. Rita Taylor, a Leeds credit manager, stated…