The personal property lease was a disguised security interest rather than a true lease because the purchase option price at the end of the lease term is nominal additional consideration amounting to 10 percent of the original price of the equipment.
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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.
An agreement between a real estate developer and a modular home builder for the builder to provide $1 million in exchange for restrictive covenants allowing only its brand of homes in the development was not an executory contract subject to rejection.
Debtors' amended disclosure statement could not be approved because it did not contain sufficient information about the debtors' business – their main source of income – such as its value and earnings projections, or about the treatment of claims.
The debtor is a securities broker/dealer. In arbitration involving certain employees to establish "control person liability," the employees are entitled to automatic stay protection under § 362(a)(3) due to their close identity with the debtor.
Trial evidence established that a scheduled debt was an account receivable due from a related entity. The non-debtor joint seller of real estate was not sanctioned because the seller did attempt to execute the sale documents by the court's deadline.
An insurer who filed a pre-petition declaratory judgment action against the debtor in New York could obtain relief from the automatic stay for cause to move forward with that lawsuit because it involves non-core state law contract interpretation.
The debtor lacked sufficient equity in his home to secure any part of the second and third liens on the property. Under Nobelman v. American Savings Bank and In re Sanders, the Chapter 13 plan may modify the lienholder's rights and strip off the liens.
The Secretary of Labor filed this minimum-wage lawsuit in federal district court. When a defendant filed bankruptcy, the lawsuit came to bankruptcy court. Because it involves an exercise of regulatory powers, it should be heard in district court.
Debtor's request for TRO to prevent a creditor from enforcing an order for stay relief was denied because success on the merits was questionable and because the public interest would be harmed if contracts and court orders weren't reliably enforced.
The holder of a blanket lien on assets authorized a subsequent lender to file U.C.C. termination statements which rendered its financing statements ineffective and caused it to lose its lien priority vis-à-vis the trustee and junior lienholders.