The bankruptcy court had subject matter jurisdiction over a non-debtor corporate defendant because the allegations concerning commingling of assets and disregard of corporate structure could conceivably affect the debtor's bankruptcy case.
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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.
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A fund transfer between the accounts of two corporations owned by the debtor was intercepted by the lender and applied to a corporate debt. The debtor sued to avoid the transfer, but the court ruled it wasn't a preference as it wasn't debtor's property.
A fund transfer between the accounts of two corporations owned by the debtor was intercepted by the lender and applied to a corporate debt. The debtor sued to avoid the transfer, but the court ruled it wasn't a preference as it wasn't debtor's property.
There was insufficient equity in debtors' residential property to secure any part of the third lien on the property. Pursuant to Nobelman v. American Savings Bank & In re Sanders, the lienholder's rights may be modified by the debtors' Chapter 13 plan.
The court granted relief from the stay to the Chapter 11 debtors' bank. The debtors were in default on their insurance requirements; there was no reasonable likelihood of obtaining a confirmed plan; and debtors ignored their obligations to the bank.
The debtors' disclosure statement was denied approval because it contained inadequate and erroneous information about assets, debts, cash flow, and financial history, and because it attempted to unilaterally modify a settlement stipulation.
There is insufficient equity in debtors' residential property to secure any part of the third lien on the property. Pursuant to Nobelman v. American Savings Bank and In re Sanders, the lienholder's rights may be modified by the debtors' Chapter 13 plan
Reported at 368 B.R. 5. When multiple vehicles serve as collateral, § 1325(a)(9) applies to the purchase money security interest incurred within 910 days of filing, so the debtor may pay that portion of the claim in full or surrender that collateral.
The court directed the debtors to file an amended Chapter 12 plan to deal with certain objections, including an administrative expense claim for attorney fees, a supplier's lien, and the payment of the IRS's priority claim.
The court denied confirmation of the debtor's Chapter 12 plan. He must file an amended plan to deal with certain priority (tax), administrative (attorney fees), and secured claims, and explain specifically how each objector's claim will be paid.