Relief from the stay was granted to a secured creditor because the debtor trucking company could not adequately protect the creditor’s collateral. Assets continued to depreciate while the debtor was unlikely to operate in the near future
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Opinions
The District of Nebraska offers a database of opinions for the years 1997 to 2011, listed by year and judge. For a more detailed search, enter the keyword or case number in the search box above.
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St. Joseph Bank & Trust Co. v. Indiana Refrigerator Lines, Inc. (In re Indiana Refrigerator Lines, Inc.), Ch. 11, BK81-86, A81-27 02/27/198102/27/1981
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West Bellevue Co., BK76-1239 02/24/198102/24/1981
The attorneys for the debtor-in-possession were entitled to fees and expenses, even though the case was subsequently converted from a Chapter XI to a “straight bankruptcy,” because their efforts preserved assets and provided benefit to the estate
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John Akin, Trustee v. Lincoln Bank South (In re Elaine Himberger), BK80-491, A80-273 02/24/198102/24/1981
Reported at 9 B.R. 278. Debtor’s “assignment of real estate equity and promissory note” to bank created a recordable interest and clearly showed an intent to create a lien on the land, so the trustee’s interest was subordinate to the bank’s mortgage
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Robert's Sheet Metal Co., BK79-O-82, Ch. 7 02/24/198102/24/1981
The court approved fee application for attorney fees of creditors who filed an involuntary petition against the debtor. The court overruled the debtor’s objection, noting that the fees would have been lower had the debtor not resisted the petition
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Younker Bros, Inc. v. Kenneth Hargis (In re Hargis), BK80-59, A80-188 12/03/198012/03/1980
Younker's wanted a debt excepted from discharge under sec. 523(a)(2), believing debtor went on a spending spree with his charge card in anticipation of bankruptcy & incurred charges with no intent to pay them. The court found no such evidence of intent
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Aidex Corporation, BK79-O-111, Ch. X1 12/02/198012/02/1980
Action to determine rights of parties to funds. Court held that security agreements do not attach to new funds generated by debtor-in-possession pursuant to a post-petition contract unless parties agree. Funds should be retained by debtor-in-possession
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Harold & Diane Olsen, BK80-1641 12/02/198012/02/1980
Court overruled secured creditor's objection to Chap. 13 plan, holding that the debtors need pay only the allowed amount of the claim (the fair market value of the collateral), rather than the full amount owed on the finance company's recourse obligation
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Lincoln Bank South v. Robert Rech (In re Rech), BK80-383, A80-234, Ch. 13 12/02/198012/02/1980
Court ruled that a lender was not entitled to relief from stay under section 1301(a) to pursue a non-debtor co-signer who received no proceeds or actual economic benefit from the loan. Moreover, the debtor is operating under a pay-in-full Chap. 13 plan
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Daniel & Dixie Conlon, BK80-1751 12/02/198012/02/1980
Court held that Chapter 13 plan must be amended to provide for cure of mortgage default within statutory three-year period. Lender's refusal of one delinquent payment was not a waiver of its right to receive delinquent payments and late payment charges
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Sharon McQuinn v. Dial Finance Co. (In re McQuinn), BK80-611, A80-249 11/10/198011/10/1980
Reported at 6 B.R. 899. A debtor who wants to redeem property should pay the creditor the replacement value of the collateral. Replacement value generally equals the retail value of the item less costs such as dealer overhead, sales commissions, & profit