American National Bank v. Joy (In Re Joy)

MEMORANDUM

JOHN C. MINAHAN, Jr., Bankruptcy Judge.

This case involves competing claims between American National Bank, secured creditor of the debtors, and an alleged purchaser of hogs from the debtors as to the proceeds from the sale of approximately 1,704 head of hogs by the trustee in March of 1993 (See Ex. 139g). At trial it was established that the debtors had “sold” a number of the same hogs to more than one party, with each “purchaser” believing they were the sole owner of the hogs purchased. When this bankruptcy case was filed there were numerous conflicting claims of ownership in the…