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Arizona

In re Summers

The chapter 7 trustee filed an objection to the debtors'claimed homestead exemption. The issues were: (1) whether 11 U.S.C. § 522(p) applied given Arizona's exemption statute, Ariz. Rev. Stat. § 33-1101, and (2) the proper application of the "safe harbor" provision of 11 U.S.C. § 522(p)(2)(B).
Ruling: 
Debtors were entitled to $125,000 homestead exemption since section 522(p) applied.
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TPG of Scottsdale LLC v. Scott Desert Shadows LLC (In re Scott Desert Shadows LLC)

Defendant seller filed a motion to quash a lis pendens filed by plaintiff assignee on the same day as the assignee's complaint for fraudulent inducement, promissory estoppel, negligent misrepresentation, breach of the covenant of good faith and fair dealing, unjust enrichment, reformation, moneys paid by mistake, and conversion.
Ruling: 
Rejection of executory agreement for sale of real property terminated the agreement effective the day preceding filing.
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In re Niles

Debtor sold her home and netted $118,317, which exceeded the applicable homestead exemption by $18,317. The trustee sought possession of the $18,317 pursuant to 11 U.S.C. § 348(f)(1)(A). The matter was pending resolution by the court.
Ruling: 
Value of chapter 7 estate's interest in proceeds from debtor's postconfirmation, preconversion sale of debtor's home was value given under confirmed chapter 13 plan.
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In re Farthing

Bankruptcy debtors listed the value of their residence in their schedules and claimed an exemption to the maximum amount allowed under state law, and existing liens and the exemption resulted in no equity in the residence. The debtors objected to the trustee's proposed sale of the residence for substantially more than its listed value.
Ruling: 
Court rejected debtors' argument that trustee needed to timely object to the valuation of debtors'residence since Rule 4003(b) only required a timely objection to the exemption in the residence.
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Movitz v. Fiesta Invs. LLC (In re Ehmann)

Shortly after issuance of the court's opinion and order, the parties conditionally agreed to a settlement of the instant adversary proceeding. Under the settlement, defendant would pay to the trustee $85,000. The condition of the settlement, however, was the court's withdrawal of its opinion. Both parties moved for approval of the compromise and settlement pursuant to Fed. R. Bankr. P. 9019, and for the court's withdrawal of its opinion.
Ruling: 
Bankruptcy court vacated its order and granted the trustee's motion to approve a settlement that mandated the court vacate its order but only after the court balanced the equities.
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Hodder v. Wilshire Credit Corp. (In re Hodder)

Plaintiffs, chapter 13 debtors, brought an adversary proceeding challenging their obligations to defendants creditors who held secured claims against real property of the debtors. The secured creditors brought a motion for judgment on the pleadings.
Ruling: 
Chapter 13 debtor could not challenge secured claims that were listed and not disputed in schedules.
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Consumer case opionion summary, case decided on September 12,2011, LexisNexis #1011-060

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