In the Matter of Delbert L. Sadler and Patsy A. Sadler, Debtors. Appeal of First National Bank of Perry County, Indiana
Court of Appeals for the First Circuit
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Delbert and Patsy Sadler run a family farm. Chapter 12 of the Bankruptcy Code offers benefits for family farmers. The Sadlers filed a petition under Chapter 13 of the 1978 Code in September 1986, two months before Chapter 12 took effect.† The Sadlers used the bankruptcy law to avoid a lien the First National Bank of Perry County had obtained on their crops. The Bank was one of their principal lenders, advancing some $173,000. When the Sadlers did not pay, the Bank filed suit and obtained a prejudgment attachment. This lien, inducing the sheriff to seize the…
2Cases cited6 opinions
- Osterneck v. Ernst & WhinneySupreme Court of the United States · 1989
- In the Matter of Russell E. Sinclair, Sr. And M. Marguerite Sinclair, Debtors-AppellantsCourt of Appeals for the Seventh Circuit · 1989
- In Re GONIC REALTY TRUST, Debtor. Appeal of GONIC REALTY TRUSTCourt of Appeals for the First Circuit · 1990
- United States v. Standard State Bank, a Missouri Banking CorporationCourt of Appeals for the Eighth Circuit · 1990
- In Re CaseUnited States Bankruptcy Court, D. South Dakota · 1983
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