Rebel Auction Co., Inc. v. The Citizens Bank

The trial court erred in granting bank's motion for summary judgment but properly denied defendant's motion for summary judgment in a suit arising out a default on two promissory notes.

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Mercier, Judge.Rebel Auction Company, Inc. (“Rebel Auction”), a defendant in the underlying suit, appeals the grant of summary judgment to the plaintiff, The Citizens Bank (“Citizens”), and the denial of its own motion for summary judgment. Rebel Auction contends on appeal that the trial court erred in denying its motion to withdraw admissions, in granting summary judgment to Citizens, and in denying Rebel Auction’s cross-motion for summary judgment. For the reasons that follow, we affirm the trial court’s denial of Rebel Auction’s motion to withdraw admissions, reverse the grant of summary judgment to Citizens, and affirm the denial of summary judgment to Rebel Auction.

Citizens filed a petition for writ of possession against Big Metal Construction, Inc. (“Big Metal”) and Gina R. Bryant (“Bryant”) in the Superior Court of Colquitt County, alleging that the defendants had defaulted on two promissory notes in favor of Citizens that were executed in 2013 by Big Metal and personally guarantied by Bryant (the “2013 notes”), and seeking possession of the property that served as collateral for the loans. The property includes several forklifts, which are described on a financing statement (the “financing statement”) filed March 15, 2011, which is referenced in the 2013 notes and in the corresponding security agreements (the “2013 security agreements”). Citizens later filed an amended complaint that included claims of tortious conversion and fraudulent misrepresentation, contending that Big Metal and Bryant sold all of the machinery that had been pledged as collateral, and that at the time of execution of the 2013 notes, they “had already sold much of the equipment and machinery listed on the UCC and offered as security.”

Rebel Auction Co., Inc. v. The Citizens Bank

The trial court erred in granting bank's motion for summary judgment but properly denied defendant's motion for summary judgment in a suit arising out a default on two promissory notes.

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