Opinion ID: 2308695
Heading Depth: 1
Heading Rank: 2

Heading: Conversion and aiding and abetting conversion claims

Text: Leighton argues that Fleet and Deering have collusively retained certain assets that rightfully belonged to Leighton. The necessary elements to make out a claim for conversion are: (1) a showing that there is a property interest by the person claiming the property was converted; (2) that person had a right to possession at the time of the alleged conversion; and (3) that the party with the right to possession made a demand for a return, which was refused by the holder. Keyes Fibre Co. v. LaMarre, 617 A.2d 213, 214 (Me.1992); Chiappetta v. LeBlond, 505 A.2d 783, 785 (Me.1986). It is difficult to ascertain exactly what assets Leighton claims were converted the securities he pledged or the restaurant equipment. Nevertheless, it was not error for the court to rule as a matter of law that a conversion claim must fail as to either of these two types of property. With regard to the securities, Fleet was within its rights to liquidate them because Leighton had pledged them in support of his guarantee on the Dinex Two loan. There can be no conversion of property by one who has a right to the property. See Casco Bank & Trust Co. v. Cloutier, 398 A.2d 1224, 1232 (Me.1979) (action for conversion fails as a matter of law where debtor has signed security agreement thereby giving secured party the right to seize and sell the collateral). As for the restaurant equipment, since we hold that Fleet did not have actual or constructive possession of it, Leighton's claim for conversion must fail. The claim against Deering that it aided and abetted the conversion must necessarily fail since it is pendent to the conversion claim against Fleet.