In re Eastern Livestock, Co., No. 10-93904-BHL-11, 2012 Bankr. LEXIS 4879 (Bankr. S.D. Ind. Oct. 16, 2012)

(bank brought summary judgment motion in Chapter 11 bankruptcy claiming entitlement to funds paid to another creditor; the security agreement securing a loan from the bank encumbered the debtor’s farm products including livestock; the bank filed a financing statement disclosing its interests; the bank alleges it is entitled to the proceeds of 192 steers in the possession of the court under state UCC; trustee and other creditors disagree; court held Food Security Act (FSA) preempts UCC codes on farm products and requires notice of security interest to buyers;  bank argued FSA did not apply because buyer was not buyer in ordinary course because it purchased steers with a dishonored check; court held whether there was a buyer in ordinary course was question of fact and law, so summary judgment denied).