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Regions Bank v Faulk (In re Faulk)

Ruling
Debt was deemed dischargeable since creditor had not proven fraud.
Procedural posture

Plaintiff creditor filed a complaint under 11 U.S.C. § 523(a)(2) to determine the dischargeability of its claim for two construction loans made in its connection with defendant debtor's part-time business as a residential contractor. The creditor contended that the debtor obtained the loans by actual fraud.

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opinion summary, case decided on July 14, 2006 , LexisNexis #0806-092

In re Wright

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

In re Horn

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