Federal Land Bank of Columbia v. Massengill (In Re Massengill)

ORDER

JAMES C. FOX, District Judge.

This is an appeal by the creditors, The Federal Land Bank of Columbia (hereinafter “Land Bank”) and South Atlantic Production Credit Association (hereinafter “PCA”) from the Order of the Bankruptcy Court entered July 8, 1987, confirming the debtor’s Chapter 12 plan. The court has received briefs from all parties and oral arguments were heard on April 1, 1988. The issue before the court is whether the debtors, as part of their Chapter 12 plan, may surrender Land Bank and PCA stock to Land Bank and PCA in satisfaction of an equivalent amount of debt owed to…