In re Blisseth
May
29
2009
Ruling
Case converted to chapter 7 where debtor's assets were insufficiently insured and lacked equity.
Procedural posture
Debtor filed a voluntary chapter 11 bankruptcy petition. The trustee (UST) moved to convert the case to a chapter 7 liquidation.
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Court
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Official Comm. of Unsecured Creditors v. Suisse (In re Yellowstone Mt. Club LLC)
May
13
2009
Ruling
Secured creditor's claim equitably subordinated on basis of overreaching and predatory lending practices.
Procedural posture
Defendants, the unsecured creditors' committee and other creditors, moved to have the rights of the principal secured creditor and its secured claim of $232 million equitably subordinated, pursuant to 11 U.S.C.S. § 510(c), The court entered an abbreviated and limited interim ruling for purposes of facilitating the upcoming auction of the debtors' assets.
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Court
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In re Mosser
May
13
2009
Ruling
Case dismissed for bad faith as filed for sole purpose of delaying creditors.
Procedural posture
A debtor filed for relief under chapter 11. Three creditors filed motions to dismiss, pursuant to 11 U.S.C.S. § 1112(b). The Montana Department of Revenue (MDOR) joined the motion to dismiss.
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Court
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In re Blixseth
May
11
2009
Ruling
Stay modified to allow creditor to proceed against vehicles in which there was not equity cushion and which were not necessary to reorganization.
Procedural posture
A debtor filed for relief under chapter 11 of the Bankruptcy Code. A creditor filed a motion to modify the stay, pursuant to 11 U.S.C.S. § 362(d)(1) and (2), and to compel compliance with 11 U.S.C.S. § 327. The debtor objected to the motions.
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Court
:
- 11 U.S.C.
In re Hand
May
05
2009
Ruling
Confirmation denied in chapter 13 case which was then dismissed in best interests of creditors.
Procedural posture
Debtors filed a petition under chapter 11 and a plan for repaying their creditors. Secured creditors filed objections to confirmation of the debtors' plan, arguing, inter alia, that the plan failed to satisfy the "best interest of creditors" test under 11 U.S.C.S. § 1129(a)(7)(A)(ii), was not fair and equitable under 11 U.S.C.S. § 1129(b). The case was tried to the court.
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Court
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In re Steve Cavanaugh Ltd. Pship
Apr
29
2009
Ruling
Stay modified to allow undersecured creditor to proceed against debtor's real property.
Procedural posture
The debtor objected to the creditors'motion to modify the automatic stay, pursuant to 11 U.S.C.S. § 362(a), to permit the creditors to pursue their non-bankruptcy remedies against a lot.
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Court
:
In re Chabot
Apr
13
2009
Ruling
Chapter 13 case converted to chapter 7 due to bad faith of debtor who participated in fraudulent investment scheme.
Procedural posture
In a chapter 13 case, the chapter 13 trustee moved to convert the case to chapter 7. The debtor filed a motion to dismiss under 11 U.S.C.S. § 1307(b). The U.S. trustee filed a motion to convert the case to chapter 7 on the grounds that the debtor filed the case in bad faith.
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Court
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In re Sport Land Inc.
Mar
06
2009
Ruling
Stay modification denied where secured creditor was adequately protected and subject property was necessary to effective reorganization.
Procedural posture
A secured creditor filed a motion, pursuant to 11 U.S.C.S. § 362(d)(1), (2), to modify the automatic stay in the debtor's chapter 11 case for cause and lack of equity in the creditor's collateral.
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Court
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In re Leach
Feb
26
2009
Ruling
Debtor could not claim deduction for cost of motor vehicles sold prepetition but should not have included proceeds in current monthly income calculation.
Procedural posture
A chapter 13 trustee objected to the confirmation of the debtors'amended plan on the grounds that the debtors deducted the cost bases of two motor vehicles, which they had sold within six months before the date they filed their bankruptcy petition, from the sale proceeds in calculating their current monthly income (CMI) under 11 U.S.C.S. § 101(10A) and disposable income under 11 U.S.C.S. § 1325(b). The court held a hearing on the objection.
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Court
:
- 11 U.S.C.
In re Martello
Dec
05
2008
Ruling
Confirmation of plan calling for payment of student loan debt outside plan denied due to discrimination against other unsecured creditors.
Procedural posture
A bankruptcy debtor sought confirmation of a chapter 13 plan which provided for payments on the debtor's nondischargeable student loan debt outside of the plan. The bankruptcy trustee objected to confirmation on the grounds that the plan unfairly discriminated against other unsecured creditors in violation of 11 U.S.C.S. § 1322(b)(1), that the student loan debt did not constitute special circumstances under 11 U.S.C.S. § 707(b)(2)(B).
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Court
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