Situation
Represented cattle feeder in litigation over promissory notes assigned to bank by insolvent feedlot operation. Although the feedlot received the proceeds from the sale of our client’s cattle, the feedlot failed to pay the bank.
Result
At trial we established that the bank and feedlot conspired to pay off other feeders’ promissory notes from the sale of our client’s cattle and that the feedlot’s receipt of sale proceeds satisfied our client’s obligation on the notes.