Relief from the automatic stay was granted to a junior lienholder in real estate because the property was over-encumbered, interest was accruing, the lienholder's collateral position was deteriorating, and debtors offered no adequate protection
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Opinions
United States Courts Opinions (USCOURTS) collection is a collaborative effort between the U.S. Government Publishing Office (GPO) and the Administrative Office of the United States Courts (AOUSC) to provide public access to opinions from selected United States appellate, district, and bankruptcy courts.
The District of Nebraska offers a database of opinions for the years 1997 to current, listed by year and judge. For a more detailed search, enter the keyword or case number in the search box above.
Reported at 51 B.R. 526. Creditor repossessed and sold part of its collateral without notice to the debtors. Because of the notice violation, it may not seek a deficiency judgment, but its allowed secured claim should be provided for in the Chap. 13 plan
Proper adequate protection under § 363(e) for the use of collateral which is declining in value must be fully compensatory and must, as nearly as possible under the circumstances of the case, provide creditor with the value of his bargained-for rights
District court reversed the bankruptcy court's order, ruling that counsel's representation of a creditor, alternating with his representation of the creditors' committee, created a potential conflict of interest which precluded compensation
The district court reversed the bankruptcy court's dismissal of the case pursuant to § 1112(b)(1), remanding the matter to permit the bankruptcy court to take evidence on the issues of asset valuation and the reasonable likelihood of rehabilitation
Reported at 50 B.R. 23. Any debtor, including each debtor when filing a joint petition, may claim a $1,500 exemption under Neb. Rev. Stat. § 25-1556 in equipment and tools used for the support of the individual debtor or the debtor's family
Incomplete opinion – pages are missing. District court reversed bankruptcy court's order denying secured creditor's motion to sequester rents & profits. The creditor needn't first file a foreclosure action to protect its lien rights in bankruptcy
Reported at 50 B.R. 728. District court reversed bankruptcy court on secured creditor's right to rents, holding that creditor needn't have filed foreclosure action to preserve lien as bankruptcy court must protect substantive state-law lien rights
Reported at 49 B.R. 638. The district court reversed the bankruptcy court's denial of plan confirmation. For a defaulted and accelerated mortgage, a Chapter 13 plan may, under § 1322(b), decelerate the mortgage & reinstate original payment schedule
District court affirmed order denying relief from the stay. The bank wanted a receiver to take control of the debtors' assets, but the court noted that appointment of a bankruptcy trustee, if necessary, would adequately protect the bank's interest