Saslow v. Andrew (In re Loretto Winery Ltd.)

I respectfully dissent. I would affirm and hold that the Producers’ lien is not enforceable against a bona fide purchaser.

Section 545(2) of the Bankruptcy Code allows a trustee to avoid a lien that

is not perfected or enforceable on the date of the filing of the petition [for bankruptcy] against a bona fide purchaser that purchases such property on the date of the filing of the petition, whether or not such a purchaser exists.

11 U.S.C. § 545(2). Federal preemption makes this law superior to any state scheme of creditor priorities. International Shoe Co. v. Pinkus, 278 U.S. 261, 265, 49 S.Ct.…