Wells Fargo Bank, N.A. v. Kingman Holdings, LLC
Dallas Court of Appeals, No. 05-17-01240 (January 17, 2019)
Justices Schenck, Reichek (opinion linked here), and Nowell
The Dallas Court of Appeals disagreed. It held that Kingman had failed to show Wells Fargo was required to make any filings with the SEC or that the lack of any filings with the SEC prevented Wells Fargo from bringing suit on behalf of the trust. Absent such proof, the attestation was meaningless, and Wells Fargo’s evidence that it was the last entity to which the security interest was assigned was sufficient to conclusively show it had capacity to bring the action. So the appellate court reversed the trial court and rendered judgment declaring that Wells Fargo has a valid and subsisting superior lien on the property.