When a confirmed Chapter 13 plan is modified to reduce payments under 11 U.S.C. Sec. 1329(a) due to substantial change in financial circumstances, the modification must correlate to the changes in circumstance; where debtors lost $1,240 in wages and salary, they could not reduce their monthly payment from $1,890 to $100, and the bankruptcy court…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re: Mary Joan Lumbar
The Chapter 7 Trustee in the bankruptcy case of Mary Joan Lumbar appeals from the Bankruptcy Court’s judgment in favor of the Debtor’s parents on a fraudulent transfer action, holding that the Debtor could not fraudulently transfer property that would have been exempt. While state law determines the nature of a debtor’s interest in property,…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re: Thompson
Reshetar Systems, Inc. appeals the January 20, 2011 judgment of the bankruptcy court determining the debt owed to Reshetar Systems, Inc. by Debtor Scott A. Thompson was not excepted from discharge. Bankruptcy Code Section 523(a)(4) excepts from discharge a debt “for fraud or defalcation while acting in a fiduciary capacity[.]” State law may impose fiduciary…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re Juve (Heide v. Juve)
Defendant, David L. Juve (the “Debtor,” and together with Mona L. Juve, the “Debtors”), appeals from the bankruptcy court’s grant of summary judgment to plaintiff, David A. Heide (the “Creditor”), holding a debt in the amount of $400,000, nondischargeable pursuant to Bankruptcy Code Section 523(a)(2)(A). The undisputed facts, viewed in the light most favorable to…Read more