Legal Opinion

United States Ex Rel. Farmers Home Administration v. Arnold & Baker Farms (In Re Arnold & Baker Farms)

United States Bankruptcy Appellate Panel for the Ninth Circuit

Decided December 30, 1994No. BAP No. AZ-93-1577-AsRMe. Bankruptcy No. 86-1195-PHX-RTBPublishedCited by 67 opinions

1Opinion of the Court

AMENDED OPINION

ASHLAND, Bankruptcy Judge:

The debtor’s plan proposed a “dirt for debt” transfer to two lienholders encumbering the primary asset of the estate. The first position lienholder objected to the plan on the grounds that: (1) the plan erroneously estimated the value of the land to be exchanged; (2) the plan was not proposed in “good faith;” (3) the plan violated the “best interests of creditors” test; and (4) the plan was not “fair and equitable.” The bankruptcy court confirmed the plan over the largest secured creditor’s objections. We reverse the bankruptcy court’s order confirming…

2Cases cited44 opinions

  1. In Re WINSHIPSupreme Court of the United States · 1970
  2. Grogan v. GarnerSupreme Court of the United States · 1991
  3. Singleton v. WulffSupreme Court of the United States · 1976
  4. United Sav. Assn. of Tex. v. Timbers of Inwood Forest Associates, Ltd.Supreme Court of the United States · 1988
  5. Louisville Joint Stock Land Bank v. RadfordSupreme Court of the United States · 1935

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3Cited by67 opinions

  1. Arnold v. Gill (In Re Arnold)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2000
  2. Kelley v. Locke (In Re Kelley)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2003
  3. Tyner v. Nicholson (In Re Nicholson)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2010
  4. In Re Arnold & Baker Farms, Debtor. Arnold & Baker Farms v. United States of America, on Behalf of the United States Farmers Home Administration, Arnold & Baker Farms, and Western Cotton Services Corp. v. United States of America, on Behalf of the United States Farmers Home Administration, Arnold & Baker Farms v. United States of America, on Behalf of the United States Farmers Home Administration, Western Cotton Services Corp.Court of Appeals for the Ninth Circuit · 1996
  5. Beal Bank, SSB v. Waters Edge Limited PartnershipDistrict Court, D. Massachusetts · 2000

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