- 11 U.S.C.
Mostoller v. Saxon Mortg. Servs. (In re Hunter)
Feb
16
2012
Ruling
Note holder was proper party to seek relief from debtor where note anticipated possible transfer.
Procedural posture
Trustee filed an adversary proceeding seeking a determination, pursuant to 11 U.S.C.S. § 506, of the nature, extent, and priority of defendants' lien, if any, on the debtor's residential real property. Defendants filed a motion on the pleadings, which was converted to a motion for summary judgment.
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Court
:
- FRBP
In re Greene
Jan
31
2012
Ruling
Stay pending appeal and supersedeas bond denied in appeal arising from contested matter under Rule 9014 rather than an adversary proceeding.
Procedural posture
A bank filed a motion for stay pending appeal pursuant to Fed. R. Bankr. P. 8005 with respect to an order approving a chapter 7 trustee's final report, approving the trustee's application for allowance of compensation and reimbursement of expenses, and approving the trustee's attorney's application for compensation. The bank also sought entry of a supersedeas bond pursuant to Fed. R. Civ. P. 62(d) and Fed. R. Bankr. P. 7062.
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Court
:
- 11 U.S.C.
Smoky Mt. Title Inc. v. Tennessee State Bank (In re Thomas Homes LLC)
Jan
17
2012
Ruling
Deed of trust erroneously recorded after quit claim deed to debtor was superior to claim of trustee.
Procedural posture
Plaintiffs title company and private trustee, sought a determination that one of the defendants, a bank, held a lien superior to the interests of all other defendants in the real property in issue. Although the bank's lien had been recorded, a quit claim deed had previously been recorded conveying the property from the borrowers to chapter 7 debtor home builder. Its chapter 7 trustee asserted he had a superior claim under 11 U.S.C.S. § 544(a)(3).
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Court
:
In re Hicks
Nov
30
2011
Ruling
Involuntary petition was proper where there was no bona fide dispute as to liability for petitioning creditors' claims.
Procedural posture
Petitioner banks filed a petition pursuant to 11 U.S.C.S. § 303(h), seeking entry of an order which placed a debtor into chapter 7 bankruptcy. The debtor opposed the petition, claiming, inter alia, that the petition could not be granted because there was a bona fide dispute as to amounts the banks claimed.
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Court
:
- 11 U.S.C.
Newton v. Sims (In re Sims)
Nov
30
2011
Ruling
Transfer for less in value than debtor paid that made debtor insolvent avoided as constructively fraudulent.
Procedural posture
Chapter 7 trustee filed an adversary proceeding against defendants, a debtor's son and daughter-in-law, seeking a determination that he could avoid a transfer the debtor made to her son seven months before she declared bankruptcy, pursuant to 11 U.S.C.S. § 548(a). The parties filed cross-motions for summary judgment.
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Court
:
- 11 U.S.C.
Tennessee Educ. Lottery Corp. v. Faulconer (In re Faulconer)
Oct
12
2011
Ruling
Debt owed by retailers to state lottery corporation for proceeds and unsold tickets was nondischargeable due to fiduciary defalcation.
Procedural posture
Plaintiff, the Tennessee Education Lottery Corporation (TELC), filed a complaint against defendant Chapter 7 debtors to determine the dischargeability of a debt that arose from a state court judgment under 11 U.S.C.S. § 523(a)(4). The TELC filed a motion for summary judgment.
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Court
:
- 11 U.S.C.
In re Daley
Oct
11
2011
Ruling
Funds in IRA involved in prohibited transaction were not exempt.
Procedural posture
Debtor filed a petition under Chapter 7 of the Bankruptcy Code, and a trustee was appointed to administer the debtor's bankruptcy estate. The trustee filed an objection to the debtor's claim that $61,646 he had in an individual retirement account ("IRA") was exempt from creditors' claims under Tenn. Code Ann. § 26-2-105(b) and 11 U.S.C.S. § 522(b)(3)(C).
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Court
:
- 11 U.S.C.
Khan v. Regions Bank (In re Khan)
Sep
29
2011
Ruling
Chapter 7 debtor in no asset case lacked standing to pursue objection to lender's proof of claim.
Procedural posture
Plaintiff Chapter 7 debtor filed an amended complaint against defendant bank seeking to disallow a proof of claim pursuant to 11 U.S.C.S. § 502(b)(1), asking the court to declare the bank's lien securing the claim void pursuant to 11 U.S.C.S. § 506(d), requesting compensatory and punitive damages pursuant to 11 U.S.C.S. § 105(a). The bank moved to dismiss for lack of subject matter jurisdiction, alleging that the debtor lacked standing.
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Court
:
- 11 U.S.C.
Farmer v. Racsko (In re Racsko)
Sep
14
2011
Ruling
Transfer to debtor's former spouse for less than equivalent value was constructively fraudulent and avoidable.
Procedural posture
Adversary plaintiff, the chapter 7 trustee, brought an action against defendant debtor, averring that the debtor fraudulently transferred funds in the amount of $79,973.27 to a trust of which she was trustee, and seeking to avoid and recover the transfer pursuant to 11 U.S.C.S. §§ 548(a), 544(b)(1), and 550(a), and in conjunction with Tenn. Code Ann. § 66-3-305 (2004).
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Court
:
- 11 U.S.C.
BankEast v. Shirley (In re Shirley)
Sep
12
2011
Ruling
Transfers made to debtor's mother and to living trust were avoidable as made with intent to hinder, delay or defraud creditors and for less than equivalent value while insolvent or rendered insolvent.
Procedural posture
Plaintiff, the authorized representative of Chapter 11 debtors' bankruptcy estate, sought to avoid, pursuant to 11 U.S.C.S. § 548(a) and § 544(b)(1), in conjunction with Tenn. Code Ann. § 66-3-305(a), transfers of real property from the debtors to defendants, the mother of one of the debtors and the debtors' revocable living trust, and to recover the real property, or its value, pursuant to 11 U.S.C.S. § 550(a).
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Court
: