Bankruptcy: Plan Modifications-Confirmation-“Substantial Change”

Where a primary secured creditor appealed after the bankruptcy court allowed Chapter 12 debtors to modify their confirmed plan several years in a row over the objection of the creditor, the court’s ruling that the debtors met their burden of showing an unanticipated, substantial change in circumstances was not clearly erroneous, and the court properly found that the fourth modified plan was feasible and confirmable.

Judgment is affirmed.

Farm Credit Services of America v. Swackhammer (MLW No. 79952/Case No. 22-6006 – 11 pages) (U.S. Court of Appeals, 8th Circuit, Norton, J.) Appealed from U.S. Bankruptcy Court, Southern District of Iowa.