The Perils And Pitfalls Of Purdy: Part 3

LexisNexis (September 26, 2017, 2:19 PM EDT) -- The Sixth Circuit recently issued a new ruling in the famous Purdy case that has been the subject of two prior articles in this newsletter. In re Purdy, 2017 U.S. App. LEXIS 16735 (6th Cir. Aug. 31, 2017). In the first article on Purdy, published September 2014, we discussed the Sixth Circuit's first ruling in the case—that a cattle lease was a "true lease" instead of a financing arrangement. As we noted in the article, that ruling was one of many in a long line of...
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