- 11 U.S.C.
In re Norred
Sep
21
2011
Ruling
Creditor entitled to insurance proceeds from post-confirmation destruction of vehicle only to the extent of its security interest.
Procedural posture
Chapter 13 debtors filed a motion to allocate insurance proceeds resulting from the post-confirmation destruction of a vehicle in which a creditor held a secured claim.
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Court
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- 11 U.S.C.
In re Marrero
Sep
21
2011
Ruling
Plan providing Till rate of interest on payments to undersecured creditor could be confirmed.
Procedural posture
A secured creditor objected to the confirmation of the debtors' First Amended Plan (the Plan), asserting that the Plan was not feasible and failed to provide interest on its secured claim at a rate that would allow it to receive property of a total value equal to the allowed amount of its claim as required by 11 U.S.C.S. § 1325(a)(5).
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Court
:
- 11 U.S.C.
In re Bollinger
Sep
02
2011
Ruling
Confirmation vacated due to improper inclusion of balloon payment where debtor intended to cram down secured debt.
Procedural posture
Citing Fed. R. Civ. P. 59(e), made applicable by Fed. R. Bankr. P. 9023, movant bank, a secured creditor, asked the court to alter and amend its earlier order confirming a Chapter 13 debtor's second amended plan on the ground, inter alia, that a balloon payment provision therein violated the requirement in 11 U.S.C.S. § 1325(a)(5)(B)(iii)(I) that "periodic payments" be in "equal monthly amounts."
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:
- 11 U.S.C.
Green Tree Servicing LLC v. Horner (In re Horner)
Jul
18
2011
Ruling
Objection to confirmation based on value of mobile home overruled due to debtor's expert's cost approach testimony.
Procedural posture
Objector creditor, the holder of a security interest in a mobile home occupied by debtors, a married couple, opposed confirmation of their Chapter 13 plan on the claim that the plan did not comply with the "cramdown" provisions in 11 U.S.C.S. § 1325(a)(5)(B) based on the parties' disagreements as to the value of the mobile home as collateral.
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:
- 11 U.S.C.
In re Gray
Nov
24
2009
Ruling
Confirmation denied due to insufficient information regarding interest rate, failure to pay both principal and interest and improper balloon payment.
Procedural posture
Debtors moved to confirm their amended chapter 13 plan. The amended plan modified the rights of secured creditor pursuant to 11 U.S.C.S. § 1322(b)(2). The creditor had previously objected to the debtors' initial proposed plan, but before the objection was resolved, the debtors filed the amended plan. The issue was whether the interaction of 11 U.S.C.S. §§ 1322(b)(2), 1322(b)(5), 1322(c)(2), 1322(e) and 1325(a)(5) allowed the modification.
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Court
:
- 11 U.S.C.
In re Smith
Sep
09
2009
Ruling
Debtor's exercise of option to purchase leased minivan within 910 days of petition date created a secured claim that was protected from bifurcation.
Procedural posture
Chapter 13 debtors sought confirmation of a plan that provided for payment of less than the amount owed on a secured claim held by creditor lender. The lender objected.
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Court
:
- 11 U.S.C.
In re Stuart
Mar
15
2009
Ruling
Denial of relief from stay reversed on reconsideration due to court's misreading of plan and lack of adequate protection.
Procedural posture
Debtor filed a petition under chapter 13 of the Bankruptcy Code and a plan for repaying his creditors, and a creditor that filed a foreclosure action against the debtor's residence before the debtor declared bankruptcy filed a motion for relief from the stay that was imposed when the debtor declared bankruptcy. In a prior ruling, the court denied the creditor's motion. The creditor filed a motion for reconsideration.
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Court
:
- 11 U.S.C.
Wilson v. Wells Fargo Bank (In re Wilson)
Mar
06
2009
Ruling
Denial of confirmation of plan with balloon payment affirmed where debtor did not provide any basis for reconsidering the bankruptcy court's decision.
Procedural posture
Appellant debtor sought review of a decision of the bankruptcy court for the District of Massachusetts, which sustained an objection to confirmation of the debtor's chapter 13 plan submitted by appellee creditor, and which subsequently denied the debtor's motion for reconsideration.
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Judge or Jurisdiction information not available
- 11 U.S.C.
Hamilton v. Wells Fargo Bank (In re Hamilton)
Mar
06
2009
Ruling
Confirmation of plan calling for balloon payment in 60th month properly denied.
Procedural posture
Chapter 13 debtor challenged an order of the bankruptcy court for the District of Massachusetts, that sustained the objection of appellee, the secured mortgagee's representative, to the debtor's proposed plan, which called for a balloon payment in the 60th month to pay off the balance of the secured portion of the claim.
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Judge or Jurisdiction information not available
- 11 U.S.C.
In re Harrison
Oct
14
2008
Ruling
Debtor who was ineligible for discharge could modify interest rate on secured claim as part of plan but modification would not have effect post-bankruptcy.
Procedural posture
The debtors filed for relief under chapter 13 of the Bankruptcy Code and submitted a modified chapter 13 plan. A creditor objected to confirmation of the modified plan.
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Court
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