First National Bank of Beresford v. Johnson (In Re Johnson)

PEDER K. ECKER, Bankruptcy Judge.

On June 29, 1979, Gary Andrew Johnson, Debtor, filed a Chapter XIII bankruptcy petition. On March 20, 1980, the First National Bank of Beresford, Plaintiff, filed a Complaint objecting to Debtor’s claim of exemptions. The Court held a hearing at which time Counsel stipulated to submission of this case to the Bankruptcy Court based on the facts alleged in Plaintiff’s Complaint and briefs to be supplied by the parties. Based on the briefs and the pleadings, this Court makes the following Findings of Fact and Conclusions of Law.

FACTS

This case is governed by the…