Legal Opinion
In Re Scott Thompson and Peggy Jo Thompson, Debtors. Production Credit Association of Mankato v. Scott Thompson and Peggy Jo Thompson
Court of Appeals for the Eighth Circuit
Decided September 8, 1989No. 88-5349PublishedCited by 10 opinions
1Opinion of the Court
HEANEY, Senior Circuit Judge.
This case involves the issue of whether debtors can avoid a lien pursuant to 11 U.S.C. § 522(f) on property exempt under state law even though they have waived their state law rights attendant to such property. Both the bankruptcy court and the district court held that a debtor could avoid a lien in such an instance. We affirm.
I. BACKGROUND
On October 9, 1987, two Minnesota farmers (debtors) filed a Chapter 7 bankruptcy. Prior to October 9, Production Credit Association (PCA) made various loans to the debtors, and, to secure those loans, the debtors voluntarily…
2Cases cited5 opinions
- United States v. Security Industrial BankSupreme Court of the United States · 1982
- Dominion Bank of the Cumberlands, Na v. James R. Nuckolls Judy M. NuckollsCourt of Appeals for the Fourth Circuit · 1985
- 11 Collier bankr.cas.2d 1024, Bankr. L. Rep. P 70,155 in the Matter of Russell Thompson and Dixie A. Thompson, Engaged in Farming, Debtors. Petition of Russell Thompson and Dixie A. ThompsonCourt of Appeals for the Eighth Circuit · 1984
- Moyer v. International State Bank of International FallsSupreme Court of Minnesota · 1987
- Georgens v. Federal Deposit Insurance Corp.Court of Appeals of Minnesota · 1987
3Cited by10 opinions
- In Re SmithUnited States Bankruptcy Court, E.D. California · 1990
- In Re HurstUnited States Bankruptcy Court, D. Maryland · 1999
- In Re StoneUnited States Bankruptcy Court, E.D. Washington · 1990
- In Re BovayUnited States Bankruptcy Court, N.D. New York · 1989
- In Re ZimmelUnited States Bankruptcy Court, D. Minnesota · 1995
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