Court Error – Priority of Security Interest

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WI Court of Appeals – District IV

Case Name: Northside Elevator, Inc. v. Jeffrey Alan Ossmann, et al.

Case No.: 2018AP1596

Officials: Sherman, Blanchard and Fitzpatrick, JJ.

Focus: Court Error – Priority of Security Interest

Northside Elevator, Inc. contends that the circuit court erred in denying its motion for summary judgment as to its claim that Northside’s security interest in certain collateral belonging to Jeffrey Ossmann has priority over Bremer Bank’s security interest in the same collateral. Northside argues that Bremer Bank’s filed financing statement for the collateral is “seriously misleading,” and thus not effective to secure its interest, because the statement did not state the name that was on Ossmann’s current, unexpired operator’s license and a search of the full name on Ossmann’s current, unexpired operator’s license does not reveal Bremer Bank’s financing statement. Based on an implied concession by Northside and our plain language interpretation of statutory and administrative code language, we conclude that the circuit court did not err in denying Northside’s motion for summary judgment and later dismissing Northside’s priority of security interest claim against Bremer Bank.

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Derek A Hawkins is trademark corporate counsel for Harley-Davidson. Hawkins oversees the prosecution and maintenance of the Harley-Davidson’s international trademark portfolio in emerging markets.