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IN RE SPECK

Bankruptcy Nos. 384-00020, 484-00254.

50 B.R. 307 (1985)

In re Donald W. SPECK, Sr., and Joan L. Speck, d/b/a Farmers, Debtors. and In re Robert Eugene McGUIRE and Ethel Arlene McGuire, d/b/a North Dakota Old West Feed, Ashley Old West Feed, Missouri River Old West Feed, Miller Liquid Feed, East River Old West Feed, Prairie Livestock, and Minnesota Old West Feed; f/d/b/a Livingston Old West Feed, Platte Valley Old West Feed, and Nebraska Old West Feed, all sole proprietorships, Debtors.

United States Bankruptcy Court, D. South Dakota.

July 3, 1985.

Attorney(s) appearing for the Case

Max A. Gors, Gors, Braun & Carlon, Pierre, S.D., for debtors Donald W. Speck, Sr., and Joan L. Speck.

Robert E. Hayes, Davenport, Evans, Hurwitz & Smith, Sioux Falls, S.D., for Speck Movant The First National Bank in Sioux Falls.

J. Bruce Blake, Sioux Falls, for debtors Robert Eugene McGuire and Ethel Arlene McGuire.

Curtis E. Wallum, Stuart, Gerry & Grunewaldt, Sioux Falls, S.D., for McGuire Movants M. Mark Menard and Verna W. Menard.

MEMORANDUM DECISION

PEDER K. ECKER, Bankruptcy Judge.

These cases have been consolidated for the Court's resolution of a single legal issue: Whether a contract for deed for the purchase of real estate is an executory contract within the meaning of 11 U.S.C. § 365, which must be assumed or rejected, or a financing device which can be treated as a secured debt in the plan of reorganization.

The facts in these cases are similar and undisputed....

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