Smith v. McLeskey (In re Bay Vista of Va. Inc.)

Ruling: 
Bankruptcy court declined to abstain from proceeding for turnover of excess funds received by creditor in foreclosure of debtor's property.
Procedural posture: 
Defendants, creditors of a chapter 7 debtor, moved pursuant to 28 U.S.C.S. § 1334 for abstention of the complaint filed by plaintiff chapter 7 trustee, which sought a turnover pursuant to 11 U.S.C.S. § 542 of excess funds collected by the creditors on certain notes, alleged a breach of contract, and alleged that the creditors were judicially estopped from collecting an amount in excess of what they represented to a state court was owed them.
Issue: 
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Commercial case opionion summary, case decided on September 24,2008, LexisNexis #1108-019