Reported at 157 B.R. 666. Creditor’s pre-petition security interest in rents continues post-petition. Rents are cash collateral, so the debtor must provide adequate protection before the court can authorize use of the rents to improve the property.
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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 101 B.R. 134. Neither the lender, the attorneys nor the IRS had a lien on money remaining after debtors’ prior bankruptcy case was dismissed, so it belonged to the debtors. Moreover, part of the IRS claim for trust fund taxes was disallowed.
Reported at 107 B.R. 663. Under the Agricultural Credit Act of 1987, a lender must determine that the debtors’ loan is or has become distressed before asking them to submit an application for restructuring, which must be reviewed before foreclosure.
Reported at 102 B.R. 184. The court ruled that § 502 permits the IRS to file an estimated claim, and it followed In re Barbier, 84 B.R. 190 (D. Nev. 1988), in holding that property exempt from levy under the Internal Revenue Code is also exempt from tax liens.
Reported at 98 B.R. 970. Plan confirmation was denied because the plan was not in the best interest of creditors. The holders of newly issued bonds under the plan must receive full payment of principal and interest before warrantholders can be paid.
Reported at 97 B.R. 565. The court denied discharge under § 727(a)(2) after finding sufficient extrinsic evidence of the debtors’ intent to hinder, delay, or defraud a creditor by making a concerted effort to remove assets from the creditor’s reach.
Reported at 97 B.R. 554. The bank’s judicial lien on rents could not be avoided as a preference under § 547 or under the trustee’s general avoiding powers in § 544 or as a statutory lien under § 545 or under the court’s equitable powers pursuant to § 522(b).
Reported at 97 B.R. 561. The court denied debtor’s motion for turnover, finding it to be in the creditors’ best interests that a receiver remain in possession, as the debtor was unable to prove that his plan to enroll the property in the CRP was feasible.
Reported at 96 B.R. 972. Debtors’ motion for turnover of assets from the receiver was granted. Section 543 merely requires the debtors to prove that turnover would be in the best interest of creditors, which is separate from the ability to reorganize.
Reported at 96 B.R. 967. The bankruptcy court has no jurisdiction over a conversion action against a Chapter 9 debtor or its employees, officers, or agents. The action is more appropriately brought under the Political Subdivisions Tort Claims Act.