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IN RE DOUGLASS

Bankruptcy No. 87-00803-C-12.

77 B.R. 714 (1987)

In re Thomas Mitchell DOUGLASS III & Teresa Lynn Douglass, Debtors.

United States Bankruptcy Court, W.D. Missouri, C.D.

September 11, 1987.

Attorney(s) appearing for the Case

Jerry W. Venters, Jefferson City, Mo., for debtors.

Dale Reesman, Boonville, Mo., for Fayette Land Co.

Larry M. Woods, Columbia, Mo., for Centerre Bank of Columbia.

FRANK W. KOGER, Bankruptcy Judge.

MEMORANDUM OPINION

This Chapter 12 proceeding came on for hearing July 23, 1987 on confirmation. Substantial objections were made by Fayette Land Co., Centerre Bank and Commerce Bank. Those creditors, jointly and severally, raised three main objections. Initially, they assert that debtors do not qualify for Chapter 12 because less than 80% of the scheduled indebtedness was farm oriented...

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