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

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.
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Commercial case opionion summary, case decided on September 24,2008, LexisNexis #1108-019