Federal Land Bank v. Herron (In Re Herron)

MEMORANDUM RULING

LeROY SMALLENBERGER, Bankruptcy Judge.

The Herrons filed for protection under Chapter 11 of the Bankruptcy Code on August 4, 1983. A Chapter 11 Plan of Reorganization was confirmed by order of this Court on August 1, 1984. An amendment to the Plan of Reorganization filed April 12, 1984 deals specifically with the claim of the Federal Land Bank. The amendment provided that the claim of the Federal Land Bank was to be amortised over a twenty year period from confirmation in equal annual installments. The first annual installment was due one year after confirmation. The Federal…