MATTER OF WOERNER

Bankruptcy No. 96-40975.

214 B.R. 208 (1997)

In The Matter of Larry D. WOERNER, Debtor.

United States Bankruptcy Court. D. Nebraska.

July 15, 1997.


Attorney(s) appearing for the Case

W. Eric Wood, Omaha, NE, for Debtor.

Victor E. Covalt, III, Lincoln, NE, for Pinnacle Peak International Asset Management Inc., as Trustee for the Secured Tax Lien Income Trust d/b/a PPI Omnibus ("PPI").

Richard K. Lydick, Omaha, NE, Chapter 12 Standing Trustee.


MEMORANDUM

JOHN C. MINAHAN, Jr., Bankruptcy Judge.

This case presents the question of whether a Chapter 12 plan may modify the rights of the holder of a "tax certificate" obtained pre-petition under Nebraska law. The plan is not confirmed because the interest of the tax certificate holder is not adequately protected. However, I conclude that the rights of the tax certificate holder may be modified in a confirmed Chapter 12 plan.

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