Sep
07
2007
In re Jones
A chapter 13 trustee objected to the confirmation of an above median debtor's plan on that the grounds that 11 U.S.C. § 1325(b)(2) and (b)(3) precluded confirmation when the plan payments were less than the debtor's monthly disposable income.
Ruling:
Plan payments less than monthly disposable income allowed where all unsecured claims would be paid in full.
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Sep
07
2007
In re Wake
The United States Trustee ("UST") moved to dismiss the debtor's chapter 7 case pursuant to 11 U.S.C. § 707(b) on the grounds that the filing constituted an abuse of the provisions of chapter 7.
Ruling:
Case ordered converted or dismissed where debtors could fund chapter 13 plan if second car payment was eliminated.
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Consumer case opionion summary, case decided on September 07,2007, LexisNexis #1007-084
Sep
07
2007
In re Cal Data Sys.
A debtor corporation filed for relief under chapter 7. A chapter 7 trustee sought to use the cash collateral from a creditor in order to investigate whether there was any benefit to the estate of going forward with a lawsuit commenced prepetition by the debtor, pursuant to 11 U.S.C. § 506.
Ruling:
Trustee could not use creditor's cash collateral to investigate lawsuit absent quantifiable direct benefit to creditor.
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Commercial case opionion summary, case decided on September 07,2007, LexisNexis #1007-076
Sep
07
2007
In re Bardo
The debtors filed for relief under chapter 13, and submitted a proposed chapter 13 plan. The creditor filed an objection to the proposed plan, asserting that the debtors plan did not make a sufficient payment toward the unsecured creditors based on the amount of projected disposable income claimed by the debtors, subject to the requirements of 11 U.S.C. § 1325(b)(1)(B).
Ruling:
Plan payments to unsecured creditors were sufficient given debtors' proper reliance on projected income based on historic figures set forth in schedules I and J.
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Consumer case opionion summary, case decided on September 07,2007, LexisNexis #0108-087
Sep
07
2007
DiFerrante v. Young (In re Young)
A judgment creditor of chapter 7 debtors objected to the debtors'claimed homestead exemption. The debtor husband sought to dismiss his bankruptcy case and the debtor wife sought to vacate her discharge and dismiss her case.
Ruling:
Debtors'cases voluntarily dismissed but with bar on refiling without court order.
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Consumer case opionion summary, case decided on September 07,2007, LexisNexis #1007-071
Sep
06
2007
Rosetti v. Chase Home Fin. LLC (In re Rosetti)
Adversary defendant, a creditor and mortgagee on plaintiff debtor's home loan, moved to dismiss a chapter 13 petition with prejudice to refiling for 180 days, based on the debtor's dismissal of a prior petition, and also moved to dismiss the adversary proceeding brought against it for breach of contract and fiduciary duties concerning the debtor's escrow accounts, which was brought pursuant to Fed. R. Civ. P. 12(b)(6).
Ruling:
Mortgagee's claim that case had been filed in bad faith precluded by confirmation of plan.
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Sep
06
2007
In re Warren
A debtor filed for relief under chapter 13 and submitted a proposed plan. A chapter 13 trustee objected, claiming that the proposed plan did not satisfy the "projected disposable income test" of 11 U.S.C. § 1325(b)(1).
Ruling:
Debtor rebutted presumption of projected disposable income as calculated on Form 22C by demonstrating future reduction in income.
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Consumer case opionion summary, case decided on September 06,2007, LexisNexis #1007-130
Sep
06
2007
In re Jemison
Four chapter 13 cases came before the court for plan confirmation. The court, sua sponte, raised the issue of whether confirmation should be denied because a provision in each plan purported to postpone the re-vesting in the debtor of all property of the estate until the case is dismissed, converted, or closed violated 11 U.S.C. § 1325(a)(1) and (3).
Ruling:
Plan approved but for any provisions calling for estate to retain more property than necessary for plan completion.
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Consumer case opionion summary, case decided on September 06,2007, LexisNexis #1007-093
Sep
06
2007
In re Oaktree Imaging LP
The chapter 7 trustee filed a motion under 11 U.S.C. § 363(b)(1) to sell the estate's interest in all the physical assets scheduled by the debtor, including an MRI machine, to a physician for $50,000. A party objected to the sale of the MRI machine.
Ruling:
Sale of aged MRI machine that could not be moved easily along with real property to physician approved as serving sound business purpose.
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Commercial case opionion summary, case decided on September 06,2007, LexisNexis #1007-075
Sep
06
2007
In re Shenango Group Inc.
Appellant, a reorganized debtor, sought review of a decision from the District Court for the Western District of Pennsylvania, which affirmed a bankruptcy court decision holding that the debtor was obligated under its reorganization plan to fully fund its pension plan to cover an increase in benefits to certain beneficiaries.
Ruling:
Debtor bound by confirmed plan to fully fund pension plan to cover increase in benefits.
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Sep
06
2007
In re Counts
Debtors filed a petition under chapter 13, an amended plan for repaying their creditors, and a motion seeking valuation of a creditor's security interest in a vehicle they owned. A trustee was appointed to the case, and he filed an objection to confirmation of the debtors'plan.
Ruling:
Plan rejected where value of creditor's security interest in business vehicle did not reflect "replacement value."
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Consumer case opionion summary, case decided on September 06,2007, LexisNexis #1007-110
Sep
06
2007
In re Stewart
The debtor filed for relief under chapter 7. The creditor had a nonpossessory, non-purchase money security interest in various items of personal property of the debtor, including a utility building. The debtor filed an amended motion to avoid the creditor's security interest in the utility building, pursuant to 11 U.S.C. § 522(f)(1)(B).
Ruling:
Utility building was not exempt as "household goods" even if used to store household goods.
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Sep
05
2007
In re Bender
The matter was before the court on the trustee's motion to dismiss debtor's chapter 7 case pursuant to 11 U.S.C. § 707(b)(3).
Ruling:
Case ordered converted or dismissed where debtors could fund plan with reductions in charitable contributions and 401(k) loan payments.
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Sep
05
2007
In re Megginson
The U.S. Trustee filed a motion to dismiss an above-median income debtor's chapter 7 case pursuant to 11 U.S.C. § 707(b)(2).
Ruling:
Debtor entitled to deduct full IRS transportation expense despite lack of car payments
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Consumer case opionion summary, case decided on September 05,2007, LexisNexis #1007-118
Sep
05
2007
McNally v. Echart (In re Echart)
Plaintiff chapter 7 trustee sought to revoke the discharge of defendant chapter 7 debtors pursuant to 11 U.S.C. § 727(d)(2).
Ruling:
Discharge revoked due to debtors'knowing failure to turn refund over to trustee.
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