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In re Wilfred Reinbold

Bankr. No.: 
87-10311
Chapter: 
12
Date of Decision: 
February 12, 1990
Issue: 
Whether the debtor's actions (selling mortgaged property and hiding and substituting collateral) constituted fraud under 11 U.S.C. § 1208(d)?
Ruling: 
The debtor committed fraud by (1) selling mortgaged property, (2) hiding certain collateral, and (3) substituting collateral with older, less valuable machinery. Other evidence of fraud included sham sale/lease back agreements and tampering with serial numbers. The creditor’s motion for relief from the automatic stay and to convert the debtor’s case from a Chapter 12 to a Chapter 7 was granted.
Full Bankruptcy Court Decision: 
Appeal Summary: 
The district court affirmed the bankruptcy court’s decision and the Court of Appeals affirmed the district court in Reinbold v. Dewey County Bank, 942 F.2d 1304 (8th Cir. 1991), cert. denied, 112 S.Ct. 1499 (1992).
Full Eighth Circuit Court of Appeals Opinion: