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§ 502

In re Engebregtsen

Oct
13
2005
Ruling
The liquidation value at the time of filing was held to be the valuation method for the creditor's objected-to proof of claim on the lien held on the debtor's pickup truck and was not affected by the debtor's continued unauthorized use of the vehicle.
Procedural posture

Debtors filed a chapter 13 case, and creditor, the holder of a lien in debtors'pickup truck, filed a proof of claim in the total amount of $21,834.72, delineating $20,475 as the secured portion of the claim and $1,359.72 as the unsecured portion. Debtors opposed the creditor's valuation of the vehicle and filed an objection to allowance of the claim.

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opinion summary, case decided on October 13, 2005 , LexisNexis #0306-047
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In re Enron Corp.

Sep
21
2005
Ruling
Objection to a proof of claim for contractual damages was sustained where the Code required that damages'calculation be fixed as of a prefiling date not as of the actual contract rejection date, which was postfiling.
Procedural posture

Chapter 11 debtors objected to claimant's proof of claim.

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opinion summary, case decided on September 21, 2005 , LexisNexis #0106-115
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In re Burkett

Sep
15
2005
Ruling
Court overruled trustee's objection to creditors'lack of supporting documentation in their proofs of claim since they established the validity, ownership, and amount of the claim and there were no factual disputes on the claims.
Procedural posture

In an adversary proceeding, plaintiff, a chapter 7 trustee, filed an objection to proofs of claim of defendant creditors, requesting disallowance under 11 U.S.C. § 502 primarily because of their failure to attach sufficient supporting documentation to the proofs of claim.

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opinion summary, case decided on September 15, 2005 , LexisNexis #0106-077
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Unsecured Claims Admr v. Franks (In re Centennial HealthCare Corp.)

Aug
29
2005
Ruling
Objection to creditor's state court punitive damages claim was rejected since punitive damages claims are permissible though often subordinated claims under Code sections.
Procedural posture

Respondent judgment creditor filed a claim against the debtors alleging that the debtors were liable to her pursuant to a judgment from a state court in Massachusetts in the amount of $114,148, which included an assessment of punitive damages. Movant, unsecured claims administrator, objected to the claim because he contended that punitive damages were not allowed in a bankruptcy context.

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opinion summary, case decided on August 29, 2005 , LexisNexis #0106-044
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