In re Smith, No. 11-30577, 2013 Bankr. LEXIS 3513 (Bankr. W.D. Ky. Aug. 27, 2013)

(case involved battle of creditors concerning priority in proceeds of sale of debtor’s livestock; debtor had 89 head and executed security agreement in favor of creditor 1 on 4/7/07 that was perfected by a filed financing statement on 8/23/07 which gave creditor 1 security interest in “all assets, including but not limited to, all now existing and after acquired…farm products,…livestock,…including, but not limited to: cows and replacement young stock of all ages and breeds,…”; security interest of creditor 1 describes collateral as “all assets, including, but not limited to, all now existing and after acquired…farm products,…livestock,…including, but not limited to: cows and replacement young stock of all ages and breeds,…”; creditor 2 held a promissory note and PMSI that debtor executed in 2008 giving creditor 2 interest in 21 holstein heifers, 14 holstein cows and 10 holstein heifers; no dispute that creditor 1 had priority in livestock proceeds that creditor 2 had no interest in; court determined that creditor 1 had priority in all remaining cattle due to language of security agreement and financing statement; creditor 1 also beat out PMSI of creditor 2 because creditor 2 did not send “authenticated notification” required by state law).