Bank of Austin v. Barnett

PHILLIPS, Chief Justice.

This case turns on the question of whether appellant bank retained its purchase money lien on certain oil paintings it financed for appellee Larry Barnett, and whether it also retained its security interest in several other paintings held as collateral. Upon jury findings, inimical to the bank’s position, judgment was rendered for appel-lees.

We reverse the judgment of the trial court and remand the case for a new trial.

In addition to finding that appellant bank had lost its lien on the oil paintings due to several renegotiations and consolidations of the debt owed by…