IN RE WALKER

Bankruptcy Nos. 183-00101, 583-00143.

48 B.R. 668 (1985)

In re Reinhold R. WALKER and Martha (NMN) Walker, d/b/a Dairy Farmers, Debtors. In re Frank C. LOUP and Dianna L. Loup, d/b/a Loup Dairy, a sole proprietorship, Debtors.

United States Bankruptcy Court, D. South Dakota.

April 29, 1985.


Attorney(s) appearing for the Case

John M. Fousek, Rapid City, S.D., for debtors Reinhold R. Walker and Martha (NMN) Walker, d/b/a Dairy Farmers.

James P. Hurley, Rapid City, S.D., for Debtors Frank C. Loup and Dianna L. Loup, d/b/a Loup Dairy, a sole proprietorship.

Robert M. Nash, Rapid City, S.D., for Northwest South Dakota Production Credit Association.


MEMORANDUM DECISION

PEDER K. ECKER, Bankruptcy Judge.

These cases have been consolidated for the Court's resolution of the single legal issue of whether a debtor may retire or cancel Class B Participation Stock in a Production Credit Association as a part of its plan of reorganization under Chapter 11.

The facts in both cases are similar and are not in dispute. The Farm Credit Act of 1971 (12 U.S.C. § 2001, et seq.) requires P.C.A. borrowers...

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