Allstate Insurance v. Posnien, Inc.

¶1 Posnien, Inc., appeals from the entry of judgment by the Eleventh Judicial District Court, Flathead County, finding that Posnien lacked “rights in the collateral” of the economic interest in the Allstate agency sold to Baird 7, and therefore cannot sustain a claim for conversion against Allstate. We reverse and remand for further proceedings, addressing the following issue:

¶2 Did the District Court err in determining that Posnien retained no security interest in the Místate agency book of business sold to Baird 7 pursuant to the terms of Allstate’s Contract Documents?

FACTUAL AND PROCEDURAL…