AI Generated Opinion Summaries

This summary was computer-generated without any editorial revision. It is not official, has not been checked for accuracy, and is NOT citable.

Facts

• The case involves a dispute between Rabo Agrifinance, Inc., as the Plaintiff-Appellee, and Terra XXI, Ltd., along with associated entities and individuals, as Defendants-Appellants. The core of the dispute centers around the application of the primary fund doctrine following the sale of Texas property, which Defendants argue satisfied the judgment against them.

Procedural History

• Rabo Agrifinance, Inc. v. Terra XXI, Ltd., 2014-NMCA-106, 336 P.3d 972: The Court declined to review the primary fund doctrine argument for lack of preservation in the underlying Rule 1-060(B) motion.

Parties' Submissions

• Defendants-Appellants: Argued for the application of the primary fund doctrine based on the proceeds from the sale of Texas property satisfying the judgment against them. They filed a second Rule 1-060(B) motion in district court raising this argument, which was previously not raised in their first Rule 1-060(B) motion.
• Plaintiff-Appellee: [Not applicable or not found]

Legal Issues

• Whether the district court erred in denying Defendants' second Rule 1-060(B) motion for relief based on the primary fund doctrine.

Disposition

• The district court's order denying Defendants' motion for relief based on the primary fund doctrine is affirmed.

Reasons

• Per M. Monica Zamora, with Michael D. Bustamante and J. Miles Hanisee concurring, the Court found that Defendants did not provide a justifiable reason for not raising the primary fund doctrine argument in their first Rule 1-060(B) motion. The Court emphasized its disfavor of multiple Rule 1-060(B) motions without justifiable reasons for not raising arguments in the first motion. Despite Defendants raising the primary fund argument in their second Rule 1-060(B) motion, the Court declined to review the merits of this argument due to the lack of a justifiable reason for its omission in the initial motion (paras 2-5).