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SW KS, near Dodge City | It's not at all like somebody receiving a stolen car. It would be like a car dealership buying a bunch of cars at an auction, getting them sold and then filing for bankruptcy, leaving the original sellers high and dry.
If the buyers bought the cattle in the normal course of business and the sellers sold them in the normal course of business from/to Eastern, it makes the sellers unsecured creditors as they were willing participants in the original sales transaction (when they thought they had a good check). In your analogy, the original owner of the car was not a willing participant in the transaction. So, the sellers are now at the back of the line of creditors. | |
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Eastern Livestock
