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Congress updates farm bankruptcy

Congress updates farm bankruptcy

The U.S. Senate last week passed a measure that would raise the limit for farms to qualify for reorganizing their debts under the Chapter 12 agricultural bankruptcy law. The bill, which has already passed the House, would raise the Chapter 12 debt limit to $10 million, up from the current $4.2 million. 

The Chapter 12 change was championed by Iowa...




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