The district court affirmed bankruptcy court's judgment for plaintiff Roth Bros., finding that debtor-defendant was acting as the undisclosed agent of another company when it purchased copper scrap from Roth Bros. for the benefit of the other company
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Debtors deposited more than $19,000 with the clerk of the bankruptcy court and moved to dismiss case. The court granted the dismissal, authorized that $13,000 be paid to the IRS, and approved approximately $10,500 in fees & expenses for debtors' attorney
Court ruled that the security interest taken by a purchase-money lender in all of the debtor's household goods was overly broad & violated the Iowa Code, and was accordingly void. Debtor, therefore, could not be liable for converting lender's collateral
The debtor made a fraudulent conveyance when substantially all of its assets were transferred pre-petition to a third party for no consideration. The third party holding the assets must deliver possession of them to the bankruptcy trustee
Debtor reopened case to set aside default non-dischargeability judgments against him. The court held that the defaults could not be set aside where debtor reaffirmed the debts in writing & a state court issued a judgment in reliance on the default jmts
Bankruptcy court denies creditor's motion for leave to file a second amended involuntary petition, holding the new allegations impermissible as not related to the original petition and the motion was made too near in time to the pretrial conference
Debtors can't claim homestead exemption for home abandoned prior to bankruptcy filing. Each debtor may claim exemptions under Neb. Rev. Stat. secs. 25-1552 & 25-1556. Debtors' car can't be exempted as either a "tool" or an "immediate personal possession"
Court refused to set aside compromise agreement between DIP & lenders in which debtors agreed to pay 50% of banks' claims and give up ability to challenge banks' liens. The terms of the agreement were fully disclosed & unsecured creditors did not object
The complaint in this adversary proceeding was dismissed when the plaintiff failed to appear for trial. However, the court retained jurisdiction over the debtor-defendant's counterclaim
Court found no exception to discharge for breach of fiduciary duty where the debtor sold loan collateral with creditor's permission but thereafter failed to pay the creditor; the parties' relationship was simply as debtor & creditor, not as fiduciaries