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IN RE RICE

United States Bankruptcy Court, E.D. Washington.
Apr 10, 2007
FINDINGS OF FACT AND CONCLUSIONS OF LAW RE: CHAPTER 12 PLAN CONFIRMATION

JOHN ROSSMEISSL, Bankruptcy Judge

THIS MATTER having come on regularly for hearing before the Honorable John A. Rossmeissl, United States Bankruptcy Judge for the Eastern District of Washington, by telephone conference on April 4, 2007, Debtors appearing by and through their attorney of record, JAMES P. HURLEY of Hurley Lara, the Chapter 12 Trustee FORD ELSAESSER, appearing in person and by written report, AmericanWest Bank appearing through JEFFREY R. SIMPSON of Talbott, Simpson Davis, P.S., and The Farm Service Agency appearing through Assistant U.S. Attorney FRANK A. WILSON, and the Court having heard the testimony of the Debtor and exhibits and evidence in support of the Order Confirming Debtor's Chapter 12 Plan, and the stipulations of the parties having been recited in the First Amended Chapter 12 Plan, and further evidenced by their signatures approving these Findings and the Amended Plan, the Court now makes the following:

FINDINGS OF FACT

1. The Plan complies with the provisions of Chapter 12 and with the other applicable provisions of Title 11, U.S. Code;

2. Any fee, charge or amount required under Chapter 12 of Title 28, U.S. Code, or by the Plan, to be paid before confirmation has been paid;

3. The Plan has been proposed in good faith and not by any means forbidden by law;

4. The value, as of the effective date of the Plan, of the property to be distributed under the Plan on account of each allowed unsecured claim is not less than the amount that would be paid on such claim if the estate of the Debtor were liquidated under Chapter 7, Title 11, U.S. Code, on such date.

5. The holder of each allowed secured claim has accepted the Plan.

The Court having entered its Findings of Fact, now enters the following:

CONCLUSIONS OF LAW

1. The Plan complies with the provisions of Chapter 12 and with other applicable provisions of Title 11, U.S. Code; and

2. The Court should confirm Debtor's Chapter 12 Plan as modified in the foregoing Findings of Fact regarding the stipulations and clarifications of the parties.