Still v. Cal-Maine Foods, Inc. (In Re Mayfield)

MEMORANDUM

RALPH H. KELLEY, Bankruptcy Judge.

The question in this proceeding is whether the defendant, Cal-Maine Foods, had a perfected lien on a feed mill and related goods owned by Billy Gene Mayfield at the time of his bankruptcy.

The feed mill was located on real property belonging to the Louisville and Nashville Railroad Company and leased to Mayfield. Mayfield bought the mill from Cal-Maine on credit. To secure payment of the price, Mayfield executed a deed of trust giving Cal-Maine a lien on his leasehold interest in the real property and a security agreement giving Cal-Maine a security…