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
7th Circuit Court of Appeals Bankruptcy Decision – In re: Resource Technology Corporation
This appeal presents a novel issue: the priority of a claim against the debtor’s estate in a Chapter 7 bankruptcy for damages arising from a tort committed by the debtor during the interval between the appointment of the trustee in bankruptcy and the liquidation a few months later of the bankrupt’s assets that had been…Read more
8th Circuit Bankruptcy Appellate Panel Decision – In re: Hecker
Trustee Randall L. Seaver appeals the January 19, 2011 summary judgment of the bankruptcy court in favor of New Buffalo Auto Sales, LLC, Maurice J. Wagener, and Palladium Holdings, LLC. The bankruptcy court correctly concluded judgment holders pre-petition judgments did not constitute avoidable pre-petition transfers under Bankruptcy Code Section 547(b). Bankruptcy court erred in concluding…Read more
New Bankruptcy Court Fees Go Into Effect November 1, 2011
If you’re thinking about bankruptcy, you should know that new court fees take effect November 1, 2011. Below are the new fees for some of the primary costs in bankruptcy court. Chapter 7 Filing Fee – $306.00 Chapter 13 Filing Fee – $281.00 Adversary Proceeding Filing Fee – $293.00 Amendment to Petition Fee – $30.00…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
6th Circuit Bankruptcy Appellate Panel Decision – In re: Emerson
This is an appeal by Thomas C. Richardson, the Chapter 7 Trustee (the “Trustee”), from an order of the bankruptcy court granting summary judgment to Citimortgage, Inc. (“Citimortgage”) and denying summary judgment to the Trustee on his avoidance action pursuant to Bankruptcy Code Section 544(a)(3). The Trustee argues that Citimortgage’s mortgage on the debtor’s Property…Read more
Colorado Bankruptcy Court Decision – In re: Shepard
Prior to the entry of the discharge order, the Chapter 7 debtors and one of their secured creditors (“Creditor”) entered into a reaffirmation agreement. Although debtors filed their case with the advice and assistance of an attorney, the attorney had not signed the declaration in support of the reaffirmation agreement. Creditor and debtors, on their…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
6th Circuit Bankruptcy Appellate Panel Decision – In re: Richard K. Miller
In this appeal, the State Bank of Florence (“Bank”) appeals an order of the bankruptcy court denying its motion for relief from stay to continue a foreclosure action against Richard K. Miller (“Debtor”), and denying its objection to confirmation of the Debtor’s chapter 13 plan. The issues presented by this appeal are (1) whether the…Read more
Colorado Bankruptcy Court Decision – In re: Butcher
This case presented the question of whether a debtor may remove language from the district’s form chapter 13 plan requiring the confirmed plan to be modified following the bar date if timely proofs of claim, filed after plan confirmation, indicate that the debtor’s plan does not fully provide for secured and priority claims. The Court…Read more
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