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§ 1325(a)(5)

In re Pryor

May
12
2006
Ruling
Confirmation of amended plan was denied since plan modified payment stream and thus triggered present value requirement of section 1325(a)(5)(B)(ii).
Procedural posture

Creditor, which financed the debtor's vehicle and held a security interest in the vehicle, filed an objection to confirmation of the debtor's amended chapter 13 plan. The narrow question before the court was whether the interest rate payable on the secured claim was capped at the contract rate.

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opinion summary, case decided on May 12, 2006 , LexisNexis #0606-104
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In re Shaw

May
11
2006
Ruling
Confirmation of debtor's plan was denied since the "hanging paragraph" of section 1325(a)(5)(B) applied and that section did not permit bifurcation of the secured claim.
Procedural posture

Debtor filed a petition for bankruptcy protection under chapter 13. The bankruptcy trustee filed a notice and proposed order of confirmation of the debtor's chapter 13 plan. Movant creditor filed objections to the plan.

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opinion summary, case decided on May 11, 2006 , LexisNexis #0606-006
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In re Rives

May
04
2006
Ruling
Court valued vehicle as of effective date of confirmed plan.
Procedural posture

The debtors filed a petition for relief under chapter 13 and filed a proposed plan of reorganization. The creditor objected to the valuation assessed for the debtors'vehicle in the confirmation plan.

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opinion summary, case decided on May 04, 2006 , LexisNexis #0606-078
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In re Davis

May
03
2006
Ruling
Objection to confirmation of chapter 13 plan was overruled since section 1325(a)(5) did not apply to the arrears payments and, thus, equal monthly installments were not required.
Procedural posture

The debtor filed for bankruptcy relief pursuant to chapter 13 and submitted a proposed plan for confirmation. The creditor objected to the confirmation of the debtor's plan, because the creditor contended that the plan did not comply with 11 U.S.C. § 1325(a)(5)(B)(iii)(I).

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opinion summary, case decided on May 03, 2006 , LexisNexis #0606-045
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DaimlerChrysler Fin. Serv. Ams. LLC v. Brown (In re Brown)

Mar
27
2006
Ruling
Debtors were directed to modify their plans since the creditors'claims on debtors'personal vehicles were deemed allowed secured claims to be paid at their present value.
Procedural posture

Three debtors purchased vehicles for personal use within 910 days before filing a chapter 13 bankruptcy petition. Creditors filed objections to confirmation based on 11 U.S.C. § 1325 contending that they, as secured creditors, must be paid the present value of their claims and that the debtors'plan did not comply.

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opinion summary, case decided on March 27, 2006 , LexisNexis #0406-079
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In re Ezell

Mar
13
2006
Ruling
Court ruled that section 1325(a)(5)'s anti-cramdown paragraph allowed debtors to surrender creditor's collateral to satisfy an allowed secured claim in full.
Procedural posture

A contested matter was before the court on a secured creditor's Objection to Confirmation of Plan and Plan Terms, objecting to confirmation of debtors'chapter 13 plan.

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opinion summary, case decided on March 13, 2006 , LexisNexis #0406-078
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In re Wright

Feb
28
2006
Ruling
Interest rate on secured claims is calculated by the formula approach not by the contractual interest rate approach.
Procedural posture

Creditor had financed the debtors purchase of a vehicle and took a security interest in that vehicle. The creditor objected to confirmation of the chapter 13 plan proposed by the debtors. At issue was whether, under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"), the plan could modify the contractual interest rate applicable to the creditor's secured claim.

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opinion summary, case decided on February 28, 2006 , LexisNexis #0506-004
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In re Horn

Feb
23
2006
Ruling
Chapter 13 plan was not denied confirmation since Code section 506, instead of a new Code section, applied when a creditor's claim was not a purchase money security interest.
Procedural posture

Movant creditor filed an objection to confirmation of non-movant debtor's chapter 13 plan.

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opinion summary, case decided on February 23, 2006 , LexisNexis #0306-039
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