In re Frederick
Nov
14
2011
Ruling
Debtor was ineligible under chapter 13 due to excessive debt owed to SEC.
Procedural posture
A debtor sought protection under chapter 13 of the U.S. Bankruptcy Code. A creditor, the Securities and Exchange Commission (SEC) disputed his eligibility to be a chapter 13 debtor because the amount owed to it was $956,448.99, consisting of $463,491.13 for disgorgement, prejudgment interest of $29,466.73, and a civil penalty of $463,491.13.
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Court
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