How Recently Enacted Amendment to Clarify Chapter 12 Will Help Struggling Farmers - Ep. 208

ABI Executive Director Sam Gerdano speaks with Joseph A. Peiffer of Ag & Business Legal Solutions (Cedar Rapids, Iowa) about a chapter 12 amendment that was enacted into law at the end of October. While incorporated into legislation that dealt with disaster aid and extending bankruptcy judgeships, the amendment clarifies a rule allowing discharge to governmental claims arising from the disposition of farm assets under chapter 12. Peiffer, an attorney with more than 30 years of bankruptcy and agricultural law experience, explains the history of the issue, what the amendment does and how it will impact chapter 12 debtors going forward.