Land Paving Co., Ch. 11, BK87-82050
Discussing confirmation requirements under sections 1129(a) and 1129(b)
Discussing confirmation requirements under sections 1129(a) and 1129(b)
While debtors' plan was silent on the treatment of the county's real estate tax lien, Nebraska law as applied by the state and bankruptcy courts acknowledges the county's lien priority, so, upon sale, taxes should be paid ahead of the secured creditors
Debtor sold cattle, which served as collateral under a security agreement, without authorization. This constituted a willful and malicious conversion of the creditor's property & resulted in the debt being excepted from discharge under § 523(a)(6)
The court declined to extend the homestead exemption to a pick-up truck and fifth-wheel trailer. While a trailer home may qualify, it must be permanently affixed to real estate. The pick-up truck would not qualify under the homestead statute.
Affirmed in part at 496 F.3d 892 (8th Cir. 2007). Two partners in the debtor breached their fiduciary duties to the debtor's estate by purchasing some of its property at a foreclosure sale. The court imposed a constructive trust on the net proceeds.
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
The dollar value of property that may be claimed as exempt under state law is the statutory amount in effect on the petition date, rather than the amount listed in the statute that was in effect at the time the parties entered into their security agreemen
The debtor transferred her house to her adult daughters more than one year before the petition date, retaining a life estate. The transfer, for no consideration and made while she was insolvent, reduced her assets and thus was a fraudulent conveyance