In re Kolodziej
Jul
02
2010
Ruling
Confirmation denied due to undervaluation of property.
Procedural posture
Movant, a secured creditor and the successor mortgagee on the debtor's real property, brought an objection to the confirmation of the chapter 13 debtors' proposed plan, and a motion for relief from the automatic stay, or alternatively for abandonment of the real property, assertion that the proposed plan did not comply with 11 U.S.C.S. § 1325(a)(5) and (a)(6), due to asserted undervaluation of the debtors' real property.
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Court
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