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In re Patel

Ruling: 
Bank not entitled to set aside stipulation for treatment of claim based on later, higher appraisal.
Procedural posture: 
Movant bank, a secured creditor of a debtor, asked the court to set aside an earlier stipulation between the bank and debtor providing for the treatment of its claim in debtor's chapter 11 plan, which plan was later confirmed. The stipulation's execution essentially mooted debtor's motion to value certain real property. Issues included whether relief was available under Fed. R. Civ. P. 60, rendered applicable by Fed. R. Bankr. P. 9024.
Issue: 
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Consumer case opionion summary, case decided on June 15,2012, LexisNexis #0712-102