Matter of Dilsaver

MEMORANDUM

TIMOTHY J. MAHONEY, Chief Judge.

These cases raise the issue of whether the Agricultural Credit Act of 1987 (Act) is applicable in the bankruptcy setting.

Statement of Facts

In the Matter of Dilsaver:

The FLB is a secured creditor of Arthur Dilsaver, debtor, and holds a real estate mortgage which provides for the conveyance of rents and profits if foreclosure is initiated. Debtor apparently was not in default on his obligation to the FLB prior to filing for Chapter 11 relief in August, 1986.

On April 20, 1988, at North Platte, Nebraska, a hearing was held before this Court to consider…