Debtor's transfer of stock sale proceeds to a trust created for his children is avoidable under the Neb. Uniform Fraudulent Transfer Act. The transfer was made while debtor was insolvent; he did not receive a reasonably equivalent value in exchange.
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Vehicle wear-and-tear deducted by debtors' appraiser was already factored into the NADA valuation, so it shouldn't have been deducted again. The body damage should have been repaired with insurance proceeds, so no deduction was allowed for that.
A creditor who was not notified of, and was unaware of, the debtors' bankruptcy received funds garnished from the debtor on a post-petition judgment. He did not have to turn those funds over, but the automatic stay prevents further collection efforts.
The court adopted the bank's valuation of the debtor's vehicle for its claim amount. The debtor's calculation included wear-and-tear that should have been part of the N.A.D.A. valuation and other damage that should have been covered by insurance.
Debtors' schedules didn't disclose their part-ownership of two houses which they believed were still in a probate estate, nor did they list a monthly annuity they forgot about. There was no evidence of fraudulent intent, so discharge was granted.
The court denied the debtor's motion for summary judgment on the issue of avoiding the lender's liens on the debtor's vehicles because there were factual questions as to why the liens had not been perfected and which party was responsible for that.
Trial was held on debtor's objection to landlord's claim. Court made factual findings that the parties were in fact landlord and tenant, rather than vendor-vendee. Court also found that the landlord was not entitled to a claim for a new heating system.
At the creditors' committee request, the court vacated its order granting the debtor's motion to convert from Chapter 11 to Chapter 7 because the court failed to allow sufficient time for notice to interested parties and an opportunity to be heard.
Fluctuations in income are simply a fact of life for those paid on a commission basis. Absent a dramatic increase in current monthly income due to the commission, it is not a special circumstance that would rebut the presumed abuse under § 707(b)(2).
The court denied the creditor's motion to dismiss the Chapter 7 case because the movant could not establish § 109(g)'s threshold element of ineligibility. Also, the case was nearly to the point of liquidation, which would better serve the creditors.