- 11 U.S.C.
In re Rice
Feb
16
2007
Ruling
Plan confirmed over objection of creditor to application of "hanging paragraph."
Procedural posture
A secured creditor filed an objection to the proposed chapter 13 plan submitted by two chapter 13 debtors. The creditor's claim was secured by an automobile owned by the debtors. The debtors proposed, in their plan, to surrender the vehicle in full satisfaction of the debt owed to the creditor. The creditor contended that the proposed surrender of the vehicle did not meet 11 U.S.C. § 1325(a)(5) confirmation requirements.
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Court
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