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IN RE BORCHARDT

No. 86-5108.

803 F.2d 948 (1986)

In re T.J. BORCHARDT, Delila Borchardt, Debtors. T.J. BORCHARDT, Delila Borchardt, Appellants, v. FARMERS STATE BANK OF SHERBURN, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided October 22, 1986.

Attorney(s) appearing for the Case

Frank Stepnowski, Chicago, Ill., for appellants.

Gary W. Koch, New Ulm, Minn., for appellee.

Before HEANEY and ROSS, Circuit Judges, and DUMBAULD, United States Senior District Judge.

HEANEY, Circuit Judge.

T.J. Borchardt and Delila Borchardt (debtors) filed a voluntary petition in bankruptcy under Chapter 11 on October 20, 1983. They owed the Farmers State Bank of Sherburn, Minnesota approximately $306,000.

On April 20, 1984, the debtors and the bank entered into a stipulation which permitted the debtors to continue farming in 1984. It required the bank to finance the debtors' 1984 farm operation...

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