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IN RE CALDWELL PORT ELEVATOR CO., INC.

Bankruptcy No. 582-00088-M, Adv. No. 582-0093-M.

28 B.R. 669 (1982)

In re CALDWELL PORT ELEVATOR COMPANY, INC., Debtor. UNITED STATES FIDELITY & GUARANTY COMPANY, Plaintiff, v. LOUISIANA DEPARTMENT OF AGRICULTURE, et al., Defendants.

United States Bankruptcy Court, W.D. Louisiana, Monroe Division.

December 22, 1982.

Attorney(s) appearing for the Case

Charles C. Trascher III, Snellings, Breard, Sartor, Inabnett & Trascher, Monroe, La., for Caldwell Port Elevator Co., Inc., debtor.

Edwin K. Theus, Theus, Grisham, Davis & Leigh, Monroe, La., for United States Fidelity & Guaranty Co., plaintiff.

C. James Gelpi and Mary Onie Riggs, Gelpi & Willeford, New Orleans, La., for Louisiana Dept. of Agriculture, defendant.

James R. Jeter, Cook, Yancey, King & Galloway, Shreveport, La., for Bank of Dixie, defendant.

Patrick L. Durusau, Jena, La., for LaVon Roark, defendant.

FINDINGS OF FACT

LeROY SMALLENBERGER, Bankruptcy Judge.

Caldwell Port Elevator Company, Inc. (Caldwell), debtor herein, sought relief under Chapter 11 of Title 11 of the United States Code. Caldwell was in the business of storing or purchasing agricultural commodities (`grain' shall be used for brevity).

As required by Louisiana law, Caldwell procured two bonds to protect its clients. The first bond protects those producers of grain who store their...

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