In Re Charles R. TUMA and Jolene L. Tuma, Debtors. Charles R. TUMA and Jolene L. Tuma, Appellants, v. FIRSTMARK LEASING CORPORATION, Appellee
Court of Appeals for the First Circuit
1Opinion of the Court
ORDER
The memorandum disposition filed June 28, 1990, is redesignated as an authored opinion by Judge Ferguson.
OPINION
FERGUSON, Circuit Judge:
Charles and Jolene Turna appeal a decision of the bankruptcy court, affirmed by the Bankruptcy Appellate Panel, which allowed their major creditor to elect to have its entire claim treated as secured under 11 U.S.C. 1111(b). We affirm.
BACKGROUND
Charles and Jolene Turna [“the Turnas”] are the major stockholders of Sawtooth Radio corporation [“Sawtooth”], a closely held corporation. Sawtooth owed approximately $1,450,000 to Firstmark Leasing Corporation…
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