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purchase money mortgage on their Arabian horses. Petitioners
were discharged of their debt pursuant to their bankruptcy plan
on December 29, 1993.
During January 1990, petitioners hired a contractor to build
a horse barn on their farm in Virginia. The barn was designed to
be 80 feet by 250 feet, with 32 stalls, an indoor riding arena, a
tack room, and a feed room. Petitioners planned to use the barn
to board horses, train horses, teach horse classes in connection
with Farrier College, and contain a tack shop to sell riding
equipment. The contractor, however, went bankrupt and did not
build the barn. Consequently, petitioners built smaller barns to
serve as stalls for some of their horses. At the time of trial,
petitioners still planned on building the original, larger barn.
During 1990, Mrs. Phillips was involved in an automobile
accident in which she fractured her back, a clavicle, and some
ribs, as well as suffering a contused lung. These injuries were
initially treated with a back brace and bed rest, and her
recuperation lasted approximately 18 months and caused her to
reduce her level of activities. During 1991, Mrs. Phillips
developed spinal cord compression, with nerve deficit, and
paralysis. This condition was treated with surgery to fuse and
to support several vertebrae. Her recuperation from the surgery
lasted approximately 12 months and caused her to reduce her level
of activities.
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