Farm Credit Midsouth, PCA v. Reece Contracting, Inc.

Hannah, Justice.

Farm Credit Midsouth, PCA, appeals from an October 28, 2003, judgment on the counterclaim of Fidelity National Bank entered in the St. Francis County Circuit Court. Farm Credit asserts that the circuit court erred in finding that Fidelity perfected a security interest in certain heavy equipment that entitled Fidelity to the proceeds of the sale of the equipment. We hold that Fidelity failed to perfect a security interest. This case is reversed and remanded for further consideration consistent with this opinion. We have jurisdiction pursuant to Ark. Sup. Ct. R. 1 — 2(b)(l)(5)…