Legal Opinion
In re Heartline Farms, Inc.
United States Bankruptcy Court, D. Nebraska
Decided January 16, 1990No. Bankruptcy No. BK89-40303PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION
JOHN C. MINAHAN, Jr., Bankruptcy Judge.
The issues before the court are whether a Nebraska land contract is executory under 11 U.S.C. § 365 and whether an anti-assignment clause in the land contract is enforceable. I conclude that the anti-assignment clause is not enforceable and that the land contract is an executory contract under § 365.
FACTS
The debtor, Heartline Farms, Inc. is an assignee of the vendee’s interest under a land contract. Under 11 U.S.C. § 1225(a)(5), debtor’s Chapter 12 plan proposes to pay the vendor only the fair market value of the land. The Estate of…
2Cases cited20 opinions
- In Re Streets & Beard Farm Partnership, Debtor. Loren and Doris Mitchell v. David Streets, Shari Streets, Fred Beard, and Reynolds M. Everett, TrusteeCourt of Appeals for the Seventh Circuit · 1989
- In Re Terrence A. Knutson, Bankrupt. Northwest Airlines, Inc. v. Edward F. Klinger, Trustee in Bankruptcy and Terrence A. KnutsonCourt of Appeals for the Eighth Circuit · 1977
- Bankr. L. Rep. P 67,051 Lawrence Jenson v. Continental Financial CorporationCourt of Appeals for the Eighth Circuit · 1979
- Buford v. DahlkeNebraska Supreme Court · 1954
- Walter Marlin Brown and Burdean Ruth Brown v. First National Bank in LenoxCourt of Appeals for the First Circuit · 1988
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3Cited by1 opinion
- In re Heartline Farms, Inc.United States Bankruptcy Court, D. Nebraska · 1990