Reported at 334 B.R. 257. Loan from acquaintance wasn't from an insider. It wasn't preferential or fraudulent as to the corporate debtor. It was fraudulent as to the individual debtor but not avoidable because transferee took for value & in good faith.
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Reported at 334 B.R. 257. Loan from acquaintance wasn't from an insider. It wasn't preferential or fraudulent as to the corporate debtor. It was fraudulent as to the individual debtor but not avoidable because transferee took for value & in good faith.
The court granted summary judgment to the lender holding a lien on the debtor’s vehicle when the Chapter 13 trustee sought to avoid that lien. The issue was whether the lender’s security interest was properly perfected within 20 days of the debtor taking possession of the vehicle. The debtor purchased the leased vehicle on Dec. 30, 2003, the dealership received the certificate of title from the lease financing company on Jan. 8, 2004; the debtor signed the odometer certification sometime thereafter; and the new certificate of title was issued on Jan. 26, 2004. Under Nebraska motor vehicle titling laws, a debtor who physically possesses a vehicle without also obtaining a certificate of title has no ownership or other interest in the car. The earliest the dealership could have transferred the title was January 8. The lender’s security interest was perfected on January 26, which was within the 20-day window of § 547(c)(3)(B), so it was timely and not avoidable. Because the decision on this motion also resolved the allegations in the trustee’s complaint, summary judgment was entered in favor of the lender even though it had not been requested.
Bank wanted summary judgment saying that a new loan given days before filing was new value and thus not preferential. Court held it was preferential; Bank's new loan was given under circumstances that required debtors to pay off old loan owed to Bank.
Debtor sought to recover a pre-petition garnishment as a preference. The court could not enter judgment because it lacked personal jurisdiction over the defendant credit card issuer, and this district was not the appropriate venue for the matter.
The court denied the ex-husband's objection to confirmation. Debtor incurred post-divorce debt on a joint credit card, but there is no evidence the ex-husband is liable for the debt. The court found the case and the plan to have been filed in good faith.
The court reopened the case to include an asset they did not schedule. The asset – claims against other entities – should be evaluated by the Chapter 7 trustee to determine whether it has any value and whether the trustee should administer or abandon it.
The court ruled that the funds in the 50-year-old debtor's Individual Retirement Account, which were rolled over from a previous long-term employer's 401(k) retirement plan, were necessary for the debtor's support and were therefore exempt.
In a valuation dispute between the debtors and the lienholder on their auto, the court said the debtors are obligated to keep the vehicle in good repair and should not be permitted to benefit from a reduction in value attributable to unrepaired damage.
A mortgage company did not have a right to be awarded miscellaneous costs and fees, such as inspection fees and late charges, as part of its motion for relief concerning delinquent payments unless it had submitted evidence in support of those charges.