In Re Borgelt
District Court, S.D. Illinois · 1935-03-20 · cited 17×
In Re Borgelt involved two brothers who filed petitions under section 75 of the Bankruptcy Act seeking agricultural debt relief after a foreclosure sale on their farmland, where the redemption period was about to expire. The debtors attempted to amend their petitions to be adjudicated as bankrupts under subdivision (s) after failing to reach a composition with creditors. The court dismissed the petitions, holding that the debtors had not complied with the required procedures under the original section 75 and that they no longer had an interest in the property because the state redemption period had expired, which a federal bankruptcy court could not extend without violating state property law and prior court decrees.