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Farming, bankruptcy, Chapter 12 provision

Dec 21, 1998 —
Topics: Business
Cara Hetland

Low crop prices, a decrease in land values and poor export markets are creating a new farm crisis. In the 1980s, farmers experienced several years of the same... and as a result, Congress added a chapter to the bankruptcy code giving farmers more negotiating tools with lenders and more options to stay in business. By April, lawmakers will decide whether or not to keep the Chapter 12 provision alive in the bankruptcy code. In this first of three reports, Mainstreet Radio's Cara Hetland looks at farm bankruptcy provision... and whether Chapter 12 works, or delays the inevitable. OUT COPY: