In re Mississippi Valley Livestock, Inc.
Court of Appeals for the Seventh Circuit
1Opinion of the Court
WOOD, Chief Judge.
This case calls on us to enter the world of commercial livestock operations. In happier times, Mississippi Valley Livestock was in the business of buying and selling fatted livestock for slaughter and processing. Mississippi Valley had an arrangement with J & R Farms (J & R) under which the former agreed to sell some of J & R’s cattle to a particular buyer. Shortly before declaring bankruptcy, Mississippi Valley paid J & R nearly $900,000 representing completed sales. The bankruptcy trustee now seeks to recover those funds under the preferential-transfer provision of the…
2Cases cited33 opinions
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