The Eighth Circuit recently released its Topp opinion. At issue was the appropriate starting point for determining the discount rate to be used when paying secured claims under a chapter 12 plan. The debtor, who had gained confirmation of his plan before the bankruptcy court, proposed paying claims to Farm Credit Services over 20 years at a rate based on the twenty-year treasury bond rate. That rate was 1.87% as of the Petition date, and to it the debtor proposed adding a 2% “risk adjustment.”
Farm Credit agreed a 2 . . .
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