Heartline Farms, Inc. v. John Daly, Personal Representative of the Estate of Agnes Stokes, Deceased

This action originated in the Bankruptcy Court. 1 Heartline Farms, Inc., the debtor in a Chapter 12 farm-reorganization proceeding, possesses a vendee's interest under an installment land contract. John Daly, as personal representative of the Stokes Estate, possesses the vendor’s interest. The Stokes Estate asserted that the installment land contract is an executory contract under 11 U.S.C. § 365. The Bankruptcy Court held that under Nebraska law an installment land contract is an exec-utory contract under § 365 if an action in strict foreclosure can be maintained. The Bankruptcy Court…