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IN RE VAN TOL

BAP No. NM-99-060. Bankruptcy No. 97-13218. Adversary No. 99-1025.

255 B.R. 57 (2000)

In re Nick John VAN TOL and Johnni Jo Van Tol, Debtors. Norwest Bank El Paso, a National Banking Association, Plaintiff-Appellee, v. Nick John Van Tol and Johnni Jo Van Tol, Defendants-Appellants, Dairy Farmers of America, Inc., Defendant.

United States Bankruptcy Appellate Panel of the Tenth Circuit.

November 8, 2000.

Attorney(s) appearing for the Case

Submitted on the briefs:*

George M. Moore, Albuquerque, New Mexico, for Defendants-Appellants.

Robert A. Johnson, Eastham Johnson Monnheimer & Jontz, P.C., Albuquerque, New Mexico, for Plaintiff-Appellee.

Before BOHANON, BOULDEN, and CORNISH, Bankruptcy Judges.

OPINION

CORNISH, Bankruptcy Judge.

The Debtors appeal a judgment determining that attempted restrictions placed upon capital retains by a dairy cooperative were ineffective and that Norwest Bank, El Paso, N.A. ("Norwest"), had a valid security interest in capital retains issued by Dairy Farmers of America, Inc. ("DFA"). For the reasons set forth below, we affirm.

BACKGROUND

The Van Tols ...

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