The court granted a bank's motion for relief from stay. The bank's interest in collateral was not adequately protected. The debtors had insufficient cash flow to amortize the bank debt and pay other claims, so confirmation of a plan wasn't feasible.
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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 granted stay relief to the issuer of an excess liability insurance policy to the debtor to allow it to mediate with certain claimants. Turnover of proceeds of the primary policy, however, was premature pending appellate resolution.
The court granted the Chapter 11 trustee's motion to convert the case to Chapter 7. The corporate debtor did not object, and the debtor's shareholders had not standing to object.
The court authorized the parties to go forward with binding arbitration pursuant to their pre-petition, non-executory contract. The arbitration case was ready and there was no evidence the process would require additional resources from debtor.
The court denied summary judgment on whether the interest rate charged on an open account was usurious. Evidence, such as the monthly billing statements sent to debtors, was needed before the amount of interest actually charged could be determined.
The summary judgment evidence was unclear as to the actual interest rate or finance charge imposed by a fuel supplier on the debtors' past-due account balance, so the court was unable to determine whether the rate was usurious, as the trustee alleged.
Service of process on the defendant was deficient because it was addressed only to the company. Service on a corporation is to be made on an officer or agent. Service on an insured depository institution is to be made by certified mail on an officer.
Service on a corporation should be made by mailing the summons and complaint to an officer or agent, not to the company itself or its law firm. If the defendant is an insured depository institution, service should be made by certified mail to an officer.
The proof of claim filed by the debtor's former spouse was for a debt that constituted an equitable division of the parties' marital property, rather than a domestic support obligation, so it was not entitled to priority treatment.
As part of the parties' dissolution decree, the debtor was ordered to pay $50 per month to his former wife toward her student loans. The bankruptcy court ruled that the payment was in the nature of support and should be treated as such in the debtor's pla