FCX, INC. v. Long Meadow Farms, Inc.

Rhodes, Justice:

This case involves a determination of the order of priority of judgment creditors in the funds to be derived from the sale of real estate in which the debtor has an equitable interest. The lower court held that plaintiff-respondent, FCX, Inc., was entitled to priority in payment over defendant-appellant, Dairy Cows (a partnership). We reverse with respect to this issue.

This declaratory judgment action was instituted by FCX against ten (10) defendants of whom only the defendant Dairy Cows is the appellant. The complaint asked the court to construe the validity and legal effect…