The appropriate valuation of the debtors' vehicle for purposes of Wells Fargo's proof of claim was the replacement value, which included a deduction from the fair market retail value for damage caused by ordinary wear and tear.
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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.
To avoid foreclosure, the debtors filed multiple bankruptcies – some pending simultaneously – which constituted efforts to hinder & delay the creditor. The court granted relief under § 362(d)(4),
Published at 370 B.R. 812. The Chapter 13 discharge prohibition period introduced by BAPCPA in § 1328(f) and directed at serial bankruptcy filings begins to run on the date the previous case was filed, rather than on the date the discharge was entered.
The Chapter 7 trustee was not estopped from objecting to the debtor's amended claim of exemption, based on new case law in the jurisdiction, despite having mistakenly encouraged the debtor at the § 341 meeting to file an amended exemption claim.
The court granted summary judgment to the defendants, finding that the shareholders' sale of debtor's stock in the context of a leveraged buyout conducted through a bank escrow agent constituted a "settlement payment" for purposes of § 546(e) and could not be avoided by the trustee or the DIP as a fraudulent transfer.
Reported at 370 B.R. 215. The state's attempt to recoup the pre-petition overpayment of unemployment benefits from benefits payable to the debtor post-petition did not arise from the same transaction and therefore violated the automatic stay.
Published at 370 B.R. 215. The state's attempt to recoup the pre-petition overpayment of unemployment benefits from benefits payable to the debtor post-petition did not arise from the same transaction and therefore violated the automatic stay.
Published at 370 B.R. 219. The plain language of § 1325(a)(9)'s hanging paragraph indicates that "acquired for the personal use of the debtor" applies only to motor vehicles, and not when the collateral for the debt consists of any other thing of value.
Financing statements for farm tractors do not need to include serial numbers or VINs, nor does the lien need to be noted on a title certificate, so John Deere's security interest was properly perfected & it was entitled to a portion of the sale proceeds.
Because it was not clear whether the jurisdictional basis for filing an involuntary Chapter 7 petition had been met, nor whether the petition had been filed in good faith, the court ordered the petitioning creditors to post a bond to protect the debtor.