Bankr. No.:
96-10070
Chapter:
12
Date of Decision:
October 16, 1996
Issue:
Whether Debtors' proposed lease of part of their farm to their son should be approved? Whether Debtors' plan, which hinged on the lease of part of their farm, should be confirmed?
Ruling:
Debtors' proposed lease of part of their farm to their son so that their son could operate a dairy was not shown to be in the best interest of the estate. The son had limited dairy experience. There was no showing that Debtors' and their son's respective contributions to the endeavor reflected the income each would receive. The plan was not confirmable because it was not shown to be feasible and was not offered in good faith.
Full Bankruptcy Court Decision:
