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IN RE PEACOCK

Bankruptcy No. 480-00223.

6 B.R. 922 (1980)

In re Roland Earl PEACOCK and wife, Linda Sue French Peacock, Debtors.

United States Bankruptcy Court, N.D. Texas, Fort Worth Division.

November 14, 1980.

Attorney(s) appearing for the Case

St. Clair Newbern, III, Fort Worth, Tex., for debtors, Peacocks.

Rufus Garrett, Jr., Fort Worth, Tex., for Borg-Warner Leasing, Inc.

Tim Truman, Fort Worth, Tex., Interim Trustee.

MEMORANDUM OPINION

JOHN FLOWERS, Bankruptcy Judge.

The issue in this case arises from a novel application of the "cram down" provisions of Chapter 13 to lease agreements which the debtor asserts are intended as security devices. Chapter 13 authorizes the Court to confirm a plan in which the present value of any deferred payments to a secured creditor equals the value of the collateral, 11 U.S.C. §§ 1325(a)(5), 506(a). The issue here is whether...

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