BancorpSouth Bank v. 51 Concrete, LLC & Thompson Machinery Commerce Corporation

IN THE COURT OF APPEALS OF TENNESSEE AT JACKSON October 25, 2011 Session BANCORPSOUTH BANK v. 51 CONCRETE, LLC & THOMPSON MACHINERY COMMERCE CORPORATION Appeal from the Chancery Court of Shelby County No. CH-09-1092-1 Walter L. Evans, Chancellor No. W2011-00505-COA-R3-CV - Filed April 16, 2012 This is a conversion case. The appellant bank perfected its security interest in collateral for a loan by filing a UCC-1 statement. The debtor subsequently sold the collateral to appellee third parties, representing that there were no liens on the collateral. The appellee third parties later sold the…