In re Golconda Farms

OPINION AND DECISION ON TRUSTEE’S APPLICATION FOR PAYMENT OF AUCTION PROCEEDS

BERT GOLDWATER, Bankruptcy Judge.

Prior to the order for relief on June 3, 1980, the trustee in bankruptcy for Golconda Farms (Golconda) was a state court receiver. During that time he auctioned equipment and vehicles as well as 1979 crops. The trustee now holds money from the auction as to the equipment and vehicles (approximately $1,000,000) and the crops (approximately $500,000). Some accounts receivable from 1979 crop sales, other than from the auction, will add to the crop account when collected.

All of the funds…