The court denied the motion of certain creditors to conduct a Rule 2004 exam of the Chapter 11 trustee concerning his distribution of funds because there was no good cause shown. There simply were insufficient funds to pay these creditors' claims.
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The court denied creditors' motion to compel production of documents because the creditors are on a futile quest to find non-existent funds with which to pay their claims. All of the money went to the secured lender, with none left for unsecured claims.
The Chapter 7 trustee's actions in operating the debtor's business were not improper or in violation of the Bankruptcy Code. The moving creditors' disagreement with some of the trustee's business decisions do not constitute cause to remove him.
Lender could have perfected security interest by noting its lien on vehicle title even after petition date. Sec. 362(b)(3) doesn't bar perfection if trustee can't avoid the transfer, and the trustee can't avoid a transfer if it's perfected within 30 days
Reported at 369 B.R. 477. The BAPCPA amendments to section 1115 and section 1129 have waived the absolute priority rule as to individual Chapter 11 debtors, who now may cram down confirmation of a plan while retaining property, as long as the plan is oth
Published at 369 B.R. 477. The BAPCPA amendments to section 1115 and section 1129 have waived the absolute priority rule as to individual Chapter 11 debtors, who now may cram down confirmation of a plan while retaining property, as long as the plan is otherwise fair and equitable.
For the means test, debtor may claim standard housing expense rather than actual expense, and vehicle ownership expense for unencumbered vehicle. 401(k) loan repayment is "additional expense." Reduced overtime pay isn't "special circumstance."
For Sec. 707(b)(2), debtors may claim the local standard housing expense, not actual expense. They may claim vehicle ownership expenses for unencumbered vehicle. 401(k) loan repayment is "additional expense." Reduced OT pay isn't "special circumstance"
A commercial landlord's administrative expense claim was granted for rent & utilities during the trustee's possession. The estate was not responsible for paying for damage allegedly caused to the premises by a buyer's removal of personal property.
To help resolve the parties' dispute as to the outstanding balance due on their home loan, the parties should prepare and submit a spreadsheet listing pre- and post-petition escrow advances, interest and other charges, and payments to the trustee.