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Hepner v. Ford Motor Credit Co. (In re Estergaard)

Plaintiff chapter 7 trustee filed an adversary proceeding against defendant creditor seeking to avoid the creditor's security interest in a vehicle under 11 U.S.C. § 544(a), claiming that the security interest was unperfected at the time of the filing of the petition. The creditor moved for summary judgment and also filed as statement of supplemental authority. The trustee moved to the statement of strike supplemental authority.
Ruling: 
Trustee was allowed to avoid creditor's security interest on debtor's vehicle since the security interest was unperfected at the time of filing.
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In re G.L. Bryan Invs.

A class of creditors held over $591,000 of the debtor's approximately $601,177 in unsecured debt as a result of a state court judgment against the debtor. The issues were whether these creditors were impaired under the debtor's fourth amended chapter 11 plan because (1) they were not receiving immediate payment of the amounts due, and (2) the interest rate under which they were to be paid was reduced from the state court judgment amount.
Ruling: 
Court ruled that debtor's fourth amended chapter 11 plan impaired creditors due to deferred payments and reduced interest rate on the judgment debt and, thus, entitled creditors to vote on debtor's second amended plan.
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Saal v. Helping People Succeed Inc. (In re Saal)

Plaintiffs, debtors, filed a motion to avoid the fixing of a judicial lien of defendant creditor pursuant to 11 U.S.C. § 522(f)(1)(A). The creditor had a judicial lien on the debtors'interest in real property. The judgment lien secured an indebtedness presently past due and owing to the creditor in the approximate amount of $9,036.00 plus accrued interest. The debtors claimed a homestead exemption in the amount of $45,000.
Ruling: 
A debtor can avoid an entire lien that only, in part, impairs an exemption in accordance with the formula set forth in Code section 522(f)(2).
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Hill v. Gibson Dunn & Crutcher LLP

Plaintiff, the chapter 7 trustee of corporate debtor in a case converted from chapter 11, brought an adversary proceeding against defendant law firm, asserting the firm's actions in representing the debtor and certain insider creditors of the debtor in various financing transactions aimed at keeping the debtor afloat constituted breaches of fiduciary duties, enabled fraudulent transfers, and constituted securities fraud.
Ruling: 
Doctrine of in pari delicto barred a trustee standing in the debtor's shoes from recovering any damages for any alleged wrongful conduct in which the debtor participated.
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In re TCR of Denver LLC

The debtor filed for bankruptcy under chapter 11 and then filed a motion for voluntary dismissal under 11 U.S.C. § 1112(b). The creditor filed a request for emergency action on the debtor's motion to dismiss bankruptcy. The court directed the filing of legal briefs on the question of dismissal of a chapter 11 case under the revised 11 U.S.C. § 1112(b) as a result of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
Ruling: 
Court, in granting a debtor's motion for voluntary dismissal, interpreted Code section 1112(b) not to require all of the elements of "cause"to obtain dismissal.
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D.E. Frey Group Inc. v. FAS Holdings Inc. (In re D.E. Frey Group Inc.)

Plaintiff debtor filed an adversary proceeding against defendant claimant, a party which filed a proof of claim. Debtor asserted eight claims for relief — breach of agreement, breach of implied covenants, interference with prospective economic advantage, fraud, breach of fiduciary duty, conversion, turnover, and determination of validity, priority and extent of liens. Pending was the claimant's motion to dismiss or abstain.
Ruling: 
Claimant's motion for dismissal or abstension was denied since the claimant's filing of a proof of claim and the obvious efficiencies of having the court adjudicate the debtor's related counterclaims weighed heavily against the court exercising its discre
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In re Shepard

Bankruptcy debtors, husband and wife, filed a joint chapter 13 bankruptcy petition, but the debtors did not identify as an asset a condominium that was co-owned by the husband and a daughter. A lender which financed the purchase of the condominium filed a proof of a secured mortgage claim, and the trustee moved to dismiss the debtors petition based on debt limits under 11 U.S.C. § 109(e).
Ruling: 
Debtor husband was ineligible for chapter 13 relief because the debtor husband's unsecured claims exceeded the statutory limit.
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Peters v. WFS Fin. Inc. (In re Glandon)

Plaintiff chapter 7 trustee brought a complaint seeking avoidance of defendant creditor's lien in debtor's pickup truck as a preferential transfer under 11 U.S.C. § 547. The matter was pending judgment.
Ruling: 
Trustee was allowed to avoid creditor's lien in debtor's pickup truck as a preferential transfer since the lien was perfected during preference period.
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Powers v. United States (In re Powers)

Plaintiff debtor filed an adversary proceeding against defendant, the Colorado Department of Revenue ("DOR") challenging an assessment by the DOR for additional state income tax that the DOR claimed that the debtor owed for two tax years after the Internal Revenue Service ("IRS") reported changes in the debtor's federal income discovered through an audit. The parties filed cross-motions for summary judgment.
Ruling: 
An additional state tax income assessment was deemed nondischargeable since the debtor had failed to file an amended state tax return required after the IRS had audited the debtor and reported changes in the debtor's income tax.
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