In an involuntary bankruptcy, a Chapter 7 trustee seeking to recover a preferential transfer must prove insolvency under the balance sheet test of § 101(31)(A), rather than relying on the § 303 test of debtor generally not paying debts as they become due
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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.
The court overruled debtor's objection to claim, finding the financing statement in question was sufficient to provide notice to third parties of the collateral covered and the debtor's identity, despite a minor error in the address listed for debtor
A creditor filed a mechanic's lien against real estate owned by the debtor for work performed for a separate debtor. On an objection to claim, the court found the debtors did not have an agency relationship and the mechanic's lien was therefore invalid
A creditor filed a mechanic's lien against real estate owned by the debtor for work performed for a separate debtor. On an objection to claim, the court found the debtors did not have an agency relationship and the mechanic's lien was therefore invalid
While a state court fraud judgment in debtor's favor collaterally estops relitigation of the issue in the context of §§ 523 or 727, the court may consider whether the fraud was "actual" as required under § 523(a)(2)(A), as well as whether § 707 applies
In Chapter 12 plans, excess disposable income must be paid toward unsecured claims, not secured claims. Also, a debtor may sell the secured offspring of livestock collateral to fund the reorganization, but the creditor's interest must be protected
Farmers & Merchants Nat'l Bank v. Harold Schulz (In re Schulz), Ch. 11, BK85-980, A86-257 03/17/1987
Because objections under § 523 and § 727 contemplate different standards of conduct with regard to intent, the litigation of the debtor's intent in a prior § 727 proceeding does not bar the raising of that issue in a subsequent proceeding under § 523
A sale of substantially all of the debtor's assets to a ready, willing, and able buyer was approved over two other, possibly higher, offers because the competing buyers did not yet have the required licenses & approvals to operate the debtor's business
The court ruled against the plaintiff debtors in a fraudulent transfer action against a lender that sold their real estate at a trust deed sale, finding that the $30,000 sales price was reasonably equivalent to the fair market value of $35,000 to $40,000
The court denied the lender's motion to dismiss or convert, finding the debtors' actions were undertaken to keep the farm operating and were not fraudulent or gross mismanagement. The court also suggested the debtors would be better off in Chapter 11