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In re Thompson, Case No. 87-01729-7 (02/01/1988) (82 B.R. 985) -- Judge Thomas S. Utschig

Case Summary:
Debtors' motion to avoid liens pursuant to 11 U.S.C. § 522(f)(2) on various farm tools and implements is granted.  Farm implements of substantial value constitute "tools" or "implements" of debtor-farmer.  Bankruptcy code provision allowing debtors to avoid nonpurchase money liens which impair exemptions does not provide for unconstitutional taking of creditor's property without just compensation; nor does it violate due process clause of Fifth Amendment.

Statue/Rule References:
11 U.S.C. § 522(f) -- Lien Avoidance

Key Terms:
Lien Avoidance


Date: 
Monday, February 1, 1988