- Ag Docket
(Chapter 12 case involving issue of distribution of proceeds of equipment sale on which bank, as senior creditor, had lien and supplier had junior lien; bank held debtor's land as security for loan and was oversecured; reorganization plan proposed retention of real estate that secured senior creditor's debt; bank motioned to receive all proceeds of equipment sale, and supplier proposed marshaling with proceeds from equipment sale going to junior creditor; court rejected junior creditor's proposal because senior creditor had right to cash out it's position first and not have to rely on real estate for payment under long term-loan as proposed in reorganization plan; supplier's alternative proposal to take second lien on real estate rejected).
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