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William Edward Julien, Ch. 11, BK10-82442 (June 23, 2014)

The court overruled the debtor’s objection to the lender’s claims on two grounds: (1) judicial estoppel does not bar a creditor from amending its claim to correct the calculation of the balance due on the petition date, and (2) long-standing legal authority allows a creditor to assert a claim for the full amount of the debt owed, without deducting amounts recovered from third parties. “The confirmed plan is not a recovery or payment in full. Instead, it is a promise to pay. The foregoing authorities are clear that until such time as ANB has received payment in full, it is entitled to assert the balance due against all responsible parties.”

Monday, June 23, 2014