Posted on February 21, 2020 by Christopher M. Seelen
Blog
There are many legal rules covering farms – rules that producers might not be aware of. A farm building may not be covered by standard insurance. Farm buildings are exempt from the state building code. And many standard insurance policies exclude coverage for buildings not built to a certain code. Consider the example of a […]
Posted on September 25, 2018 by Christopher M. Seelen
Blog
Farmers may have wondered how a neighbor or someone else filing bankruptcy can keep his or her house. The answer is exemptions. Exemptions are assets that can be kept from unsecured creditors. The Wisconsin Legislature didn’t want debtors on the street with no assets so it created exemptions. The Wisconsin homestead exemption allows a debtor […]
Posted on March 15, 2017 by Christopher M. Seelen
Blog
The 2016 bankruptcy statistics tell an interesting story. While the total number of bankruptcy cases filed in 2016 in the Western District of Wisconsin (“WDW”) fell 5.5% to its lowest level in ten years, Chapter 12 farm bankruptcy cases actually increased 31% from 2015. Total Filings. There were 4,362 total bankruptcy cases filed in […]
Posted on December 15, 2016 by John D. Leary
Blog
How prepared are you for a workout or Chapter 12 farm bankruptcy filed by your Borrower? Make it your New Year’s Resolution to know the answer to these questions about your Borrower. Do you conduct regular file reviews? Regular loan file reviews can be used as tools to increase certainty as to collateral priority and […]
Posted on November 15, 2016 by Christopher M. Seelen
Blog
The harvest is plenty, but with corn at $3/bushel, soybeans at $9/bushel, and milk at $15-$16/hundred weight, the profits are few. Did you know that in 2015 and 2016, the Western District of Wisconsin ranks 3rd (out of 94 federal judicial districts) for most Chapter 12 farm bankruptcy filings? In 2015, the Western District of […]