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BY: admin
POSTED: April 12, 2010
Where at the time of filing, the Ch. 13 debtors had above-median income; in 2009, the debtors obtained confirmation of a modified plan reducing the payment period from 60 to 36 months; and the trustee subsequently filed a modified debtors’ plan increasing the payment period from 36 to 60 months; the Bankruptcy Court concludes that [...] |
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BY: admin
POSTED: March 29, 2010
Where the Ch. 7 debtors intended two mortgages to encumber their interest in their homestead property; the mortgages contain an erroneous legal description of the property; and as a result of the erroneous description, the mortgagee was unable to perfect and record its mortgages; the Bankruptcy Court concludes that the trustee is able to avoid [...] |
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BY: admin
POSTED: February 15, 2010
Where the debtor, a real estate agent, claimed to be acting on plaintiff’s behalf and sold plaintiff two properties which were owned by the debtor without disclosing his profit on the sales; the debtor, claiming that he had special knowledge about the properties and work required, gave plaintiff cost estimates for renovation of the properties; [...] |
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BY: admin
POSTED: February 15, 2010
Where the trustee seeks approval of his employment of a law firm as special counsel for the estate; prior to the conversion of these cases to Chapter 7, the law firm represented two of the debtors as plaintiffs in Chapter 11 proceedings by commencing adversary proceedings against two parties (the objectors) who now object to [...] |
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BY: admin
POSTED: January 25, 2010
Tags: Exemptions
Where the debtor is the beneficiary of an IRA owned by her deceased father; and upon the death of the debtor’s father, the amount in the account was transferred to a different trustee but the recipient account remained in the name of the decedent; the court concludes that the transferred amounts remain retirement funds prior [...] |
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BY: admin
POSTED: December 21, 2009
Where the debtor/lessee sent a letter on July 30, 2009 to the lessor of nonresidential real estate stating that the lease was rejected effective July 31, 2009; and on October 15, 2009, the lessee filed a motion to reject the lease; the court determines that the effective date of the rejection is the date of [...] |
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BY: admin
POSTED: October 26, 2009
Where the debtors did not disclose in their petition or schedules or at the meeting of creditors property they owned at the time of filing, including a motorcycle and a timeshare property; the debtors had numerous opportunities to remedy the omissions but failed to do so; and the debtors’ explanations regarding the omissions are inconsistent [...] |
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BY: admin
POSTED: October 5, 2009
Where the debtor purchased luxury lakefront property through a limited liability company in order to prevent his wife from gaining a property interest; the limited liability company was owned by another corporate entity, which in turn is owned by the debtor, four trusts for his children, and another corporate entity; on the eve of bankruptcy, [...] |
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BY: admin
POSTED: August 24, 2009
Where the debtor filed a petition under Ch. 7 in 2005 and several weeks later provided her counsel with a change of address; no change of address was filed with the court; thereafter, a creditor which held a second mortgage on the debtor’s home, initiated an adversary proceeding, mailing the summons and complaint to the [...] |
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BY: Minnesota Lawyer
POSTED: July 20, 2009
Where the debtor claims a homestead exemption in the amount of $30,400, reflecting one-half of the equity in real property where he has resided since 1998 with his co-resident, who currently holds legal title to the property; the debtor has made payments toward ownership and expenses of the property since 1998; in early 2009, the [...] |
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