Consolidated hearing on debtor's motions to use cash collateral and for security determination, and creditor's motions for trustee and relief from stay. Creditor is secured, but motion for relief from stay denied. Debtor's motion to use cash denied
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Opinions
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On appeal, the district court reversed the bankruptcy court, finding the admin. expenses incurred – including penalties & interest on payroll taxes – benefitted the secured creditor and should be paid from the proceeds of the creditor's collateral
A continuation statement filed more than six months before the expiration of a financing statement was not effective under Neb. U.C.C. § 9-403(3), and perfection of the creditor's secured interest lapsed when the original financing statement expired
Creditor's pro se motion for an extension of time to file an objection to discharge or dischargeability was granted. However, the court advised the creditor to carefully consider the merits of her objection and to consult an attorney before filing
Pre-petition, the government was setting off payments owed to the debtor against a debt owed by the debtor. The court held that a payment to be made post-petition pursuant to a pre-petition contract could be set off as a mutual pre-petition obligation
On appeal, the district court affirmed the bankruptcy court's order granting relief from stay. The debtors failed to make an offer of proof by which to preserve certain alleged errors for appeal. The court's factual findings weren't clearly erroneous
The district court affirmed the bankruptcy court's order that the plaintiff creditors had no claim to funds held by the debtors as a result of the termination of a lease, nor was it covered under the "general intangible" clause in the security documents
Debtor objected to creditor's claim, arguing accord & satisfaction as a result of two checks sent in purported settlement of outstanding invoices. Objection was overruled, on basis that debtor hadn't proven all necessary elements of accord & satisfaction
While the bankruptcy court believed §§ 362 and 544 define secured creditors' rights, it was bound by the district court's Mahloch and Anderson rulings giving creditors liens on rents & profits even if the creditors had no perfected interest therein
On appeal, the district court affirmed the bankruptcy court's order overruling the bank's objection to confirmation alleging improperly claimed exemptions. The bank's argument regarding the debtors' eligibility for Chapter 13 was not timely made