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
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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 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
The court dismissed the debtors' bankruptcy case pursuant to § 1112(b)(1) because there was (a) negative cash flow throughout the life of the case, (b) continuing loss to and diminution of the estate, and (c) no reasonable likelihood of rehabilitation
On appeal, the district court affirmed the bankruptcy court ruling that the debtor couldn't have a Chapter 11 case and a Chapter 13 case pending at the same time. Moreover, the debtor wasn't eligible for Chapter 13 and couldn't convert the Chapter 11 to 1
District court reversed bankruptcy court's denial of discharge. If the order was based on old Rule 406, it was in error because failure to appear at a § 341 meeting doesn't waive discharge under the Code. If it was based on § 727, it was an abuse of discr
Debtor's former wife obtained a judgment lien on debtor's equitable interest in certain real estate when the state court appointed a receiver at her request. Because that state court order met the elements of § 547, the lien was avoided as a preference
This copy of the opinion is incomplete. The court avoided as a preference a judicial lien put on the Chapter 13 debtors' property within 90 days of the petition date, but declined to limit the avoidance to the amount that would have been exempt in Chapter
Bank failed to note its lien on a certificate of title, so it did not have a perfected security interest in the debtor's vehicle. Its alleged lien was avoided. To the extent the proceeds of the vehicle's sale were not exempt, they were property of the es
On debtors' claims objections, the court found the bank hadn't waived a deficiency claim by holding collateral for an extended period before selling it, as the debtors caused the delay. A valuation hearing was necessary to determine the claim amounts
Involuntary Chapter 7 petitions may be filed by a "holder of a claim." The statute doesn't distinguish between secured & unsecured creditors when determining the number of claimholders. Also, involuntary cases can't be filed against joint debtors