Eastern District

Natl Gas Distribs. v. Branch Banking & Trust Co. (In re Natl Gas Distribs.)

Plaintiff bankruptcy trustee brought an adversary proceeding against defendant bank, seeking to recover note payments made by the bankruptcy debtor to the bank as preferential transfers. The trustee moved for summary judgment, and the bank asserted the defense under 11 U.S.C. § 547(c)(2) that the note payments were made according to ordinary business terms.
Ruling: 
Note payments made to bank were deemed not paid under ordinary business terms and, thus, were avoidable preferential transfers.
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In re Alexander

The chapter 13 trustee filed motions to confirm the chapter 13 plans in several cases. The debtors in these cases all objected because the trustee had not included language in the plans that allowed the possibility of early termination. The trustee contended that the applicable commitment period was a period of either three or five years depending upon a debtor's current monthly income.
Ruling: 
Court deemed plans confirmable if projected disposable income was calculated under section 1325(b)(2)'s new disposable income definition and that amount, if any, was committed to pay unsecured creditors for applicable commitment period.
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In re Donald

At a discharge hearing pursuant to 11 U.S.C. § 524(d), the court had to consider whether to approve a reaffirmation agreement between the chapter 7 debtors and a secured creditor under section 524(c)(6)(A) as being in the best interest of the debtors. The debtors argued that they could retain their car by making their payments even if the court disapproved the reaffirmation agreement, thereby making it unenforceable.
Ruling: 
Reaffirmation agreement was approved since it was in best interest of debtors and was required for debtors to retain car.
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In re Brooks

A chapter 13 bankruptcy trustee submitted a chapter 13 reorganization plan to the court for its approval. A creditor filed objections to the plan because it provided that it would be paid interest on its 910 claim based on the "Till," prime-plus rate rather than the rate specified in the chapter 13 debtors'contract. The debtors proposed an amendment to the plan, which would eliminate any interest payments with regard to the creditor's claim.
Ruling: 
Court deemed that to confirm chapter 13 plan with 910 claim, plan had to provide for full payment of secured claim with interest at Till rate.
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In re Jones

A chapter 13 matter was before the court on the motion for declaratory judgment and, in the alternative, for the continuance of the automatic stay filed by debtor. A secured creditor with a lien on debtor's residence filed a response in opposition to the motion.
Ruling: 
Debtor did not need an extension of the automatic stay since the property in question was estate property.
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In re Beaver

Petitioner creditor filed a motion for preconfirmation adequate protection of its security interests in vehicles owned by one of respondent debtors. The debtors objected that adequate protection could be provided by means other than the direct payments requested.
Ruling: 
Court held that the debtor was not limited to making preconfirmation direct payments to provide adequate protection to the creditor of a security interest and approved an agreed-on preconfirmation installment payment plan.
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In re Paschal

Movant, a chapter 13 debtor, sought a declaratory judgment and, in the alternative, sought a continuance of the automatic stay, requesting the court to determine the meaning of 11 U.S.C. § 362(c)(3)(A), as enacted pursuant to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub.L. No. 109-8, § 302.
Ruling: 
Court interpreted section 362(c)(3)(A) of the Code to not have terminated all of the debtor's automatic stay protections simply because the debtor had a prior case dismissed within the preceding year but rather to have terminated only if actions were taken by creditors within the prior year.
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In re Moore

A bankruptcy debtor's prior bankruptcy case was dismissed and the debtor filed a second case within a year after the prior case was closed. The debtor moved to extend the automatic bankruptcy stay in the second case, which would otherwise expire 30 days after the second case was filed pursuant to 11 U.S.C. § 362(c)(3).
Ruling: 
Automatic stay was extended for second filing made within a year of a prior case being closed since the prior case had actually been dismissed just not closed more than a year before the second filing.
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