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MATTER OF HEMPHILL

Bankruptcy No. 80-1671-W, Adv. No. 80-0210.

18 B.R. 38 (1982)

In the Matter of Glenn HEMPHILL and Norma Hemphill, Debtors. Glenn HEMPHILL and Norma Hemphill, Plaintiffs, v. T & F LAND COMPANY, a corporation; T.C. & J. Grain Company, a corporation; Triple F Farms, a partnership; C & J Farms, a partnership; Tony Freund, Sr.; Charles Freund; John W. Freund; and Tony Freund, Jr., Defendants.

United States Bankruptcy Court, S.D. Iowa.

January 22, 1982.

Attorney(s) appearing for the Case

Maureen E. McGrath and Terrence J. Ferguson, Kutak, Rock & Huie, Omaha, Neb., for plaintiffs.

Frank H. Kulig, Venteicher, Strasheim & Laughlin, P.C., Omaha, Neb., Robert J. Baudino, Jr. and Donald F. Neiman, Des Moines, Iowa, for defendants.

Frank W. Pechacek, Jr., Council Bluffs, Iowa, for creditors' committee.

Charles L. Smith, Council Bluffs, Iowa, for debtors.

MEMORANDUM OF DECISION

RICHARD STAGEMAN, Bankruptcy Judge.

This is an adversary proceeding to avoid the transfer of certain land and chattels. The legal bases of the action are Sections 547 and 548 of the Bankruptcy Code (11 U.S.C. §§ 547, 548), the common law of Iowa relating to fraud, reformation and rescission of contracts, and failure of consideration. The plaintiffs, Glenn and Norma Hemphill seek the return of the subject matter land and chattels...

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