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IN RE OAK FARMS, INC.

Bankruptcy Nos. 3-81-1920 to 3-81-1922, Adv. No. 3-81-0329.

37 B.R. 178 (1984)

In re OAK FARMS, INC., Oak Farms Service Co., Curtis H. Johnson and Gloria J. Johnson, d/b/a Oak Farms Livestock, Debtors. Curtis H. JOHNSON and Gloria J. Johnson, d/b/a Oak Farms Livestock and Oak Farms, Inc., and Oak Farms Service Co., Plaintiffs, v. FIRST NATIONAL BANK OF MONTEVIDEO, United States of America by the Farmers Home Administration, Rosen Livestock, Inc., Howe Chemical Company, Inc., and N-Ren Corporation, Defendants.

United States Bankruptcy Court, D. Minnesota.

February 27, 1984.

ORDER

JOHN J. CONNELLY, Bankruptcy Judge.

This matter is before the Court on remand from the United States District Court for the District of Minnesota.

I

The relevant facts are undisputed. The Debtors are the principal officers and shareholders of Oak Farms, Inc. and Oak Farms Service Co., both Minnesota corporations engaged in agricultural business pursuits. In 1978 Oak Farms, Inc. executed a mortgage on certain parcels of real estate...

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