Michigan Livestock Credit Corp. v. Porter (In Re Porter)

MEMORANDUM AND ORDER

ALLEN SHARP, Chief Judge.

Michigan Livestock Credit Corporation (“Michigan Livestock”) appeals from an order of the United States Bankruptcy Court holding that a pair of written agreements between the debtors and Michigan Livestock constitute disguised security devices rather than bailment contracts. Specifically, Michigan Livestock argues that it retained ownership of hogs which were in the debtors’ possession on the petition date and challenges the bankruptcy court’s decision that the Porters’ adversary action to determine the extent, validity, and priority of the…