IN RE WALAT FARMS, INC.

Bankruptcy No. 85-09344.

70 B.R. 330 (1987)

In re WALAT FARMS, INC., Debtor.

United States Bankruptcy Court, E.D. Michigan, N.D.

February 9, 1987.


Attorney(s) appearing for the Case

Ralph I. Selby and Randall L. Frank, Bay City, Mich., for debtor.

Lambert, Leser, Dahm, Giunta, Cook & Schmidt, P.C., Bay City, Mich., for Equitable Life Assurance Society.


MEMORANDUM OPINION REGARDING CONFIRMATION OF DEBTOR'S FIRST AMENDED PLAN OF REORGANIZATION

ARTHUR J. SPECTOR, Bankruptcy Judge.

The issue is whether the Court should allow the debtor to cramdown its plan of reorganization on the first mortgagee of a substantial part of its farmland when the plan provides that only a certain part of the mortgaged premises be deeded to the mortgagee in full satisfaction of the entire mortgage indebtedness.

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