The court sustained an objection to a Chapter 11 plan as to the appropriate valuation and treatment of stock purchased by debtor as part of a distribution agreement to sell the creditor's products. The set-off of promotional allowances was permitted.
After the debtors experienced a second round of their mortgage servicer's imposition of post-discharge fees and costs, the court imposed a monetary sanction of the actual expenses incurred by the debtors for the violation of the discharge order.
The court reopened the case to include an asset they did not schedule. The asset – claims against other entities – should be evaluated by the Chapter 7 trustee to determine whether it has any value and whether the trustee should administer or abandon it.
A financing arrangement in which the creditor got a super-priority administrative claim was approved. The court said the risk to other admin. claimants was minimized by the creditor's ability to collect receivables so the debtor could reorganize.
The vested portion of debtor's 401(k) account, in an amount sufficient to pay judgment owed to his former wife as part of their marital dissolution action, is not exempt under Neb. Rev. Stat. section 25-1563.01, as it isn't necessary for debtor's support
Reported at 62 B.R. 718. The court granted relief from the automatic stay to a creditor for cause under § 362(d)(1) because debtor failed to pay its taxes, failed to pay withholding taxes, and failed to disclose the existence of a corporate bank account
The court ordered debtor to comply with discovery requests concerning his business, his assets, and the source of funds used to pay his counsel, which was not privileged information. The debtor's failure to respond could subject him to sanctions.
A creditor with a U.C.C./§ 546(c) reclamation claim for goods sold to the debtor may pursue that claim even though the debtor's inventory has been sold, because court orders preserved the creditor's potential interest in the inventory's proceeds.
Debtor filed a voluntary Chapter 11 petition, effecting a conversion of the existing involuntary Chapter 7 case. The date of commencement relates back to the Chapter 7 filing date and the transfer at issue therefore was post-petition and not avoidable
