Davis Forestry Products, Inc. v. DownEast Power Co., LLC

[¶ 1] This case presents questions concerning the treatment of deposit accounts under Article 9-A of Maine’s Uniform Commercial Code, 11 M.R.S. §§ 9-1101 to 9-1709 (2009). 1 The deposit account at issue, held at The First, N.A., is subject to conflicting claims of priority by party-in-interest DownEast Power Company, LLC and Davis Forestry Products, Inc. Asked to determine the order of priority, the District Court (Machias, Romei, J.) concluded that Davis, as a “lien creditor,” 2 had priority over DownEast’s unperfected security interest in the account. Dow-nEast appeals from this judgment.…