Farmers Cooperative Co. of Rush Center v. Timken State Bank (In Re Pechanec)

MEMORANDUM OF DECISION

ROBERT B. MORTON, Bankruptcy Judge.

NATURE OF THE CASE

The instant adversary comes before the Court upon the complaint of the Trustee and Farmers Cooperative Company of Rush Center, Kansas, to have the debtors’ interest in a trust determined to be an asset of the estate and to set aside a mortgage on the trust property.

FACTS

The Court finds the material facts to be as follows:

On April 8, 1981, B.F. Pechanec died, leaving a will in which he set up a testa mentary trust naming his four children as beneficiaries. One of. the children mentioned was Frank Peehanec, one of the…