Due to court's findings of fact regarding value of debtors' real estate and amount due under land contract, debtors' objection to trustee's intent to sell property was overruled.
Debtors plan, which proposed to contribute such portion of $15,000 proceeds of sale of real estate as necessary to complete the plan, failed to meet the requirements of 11 U.S.C. s. 1325(b)(1)(B).
Defendant bank was granted summary judgment on fraudulent transfer cause of action; defense of accord and satisfaction was inapplicable because the amount the debtors owed the bank at the time of the prepetition transfer was not in dispute.
Debtors' claim of exemption of land contract payments as business property was disallowed. Debtors were allowed an exemption in 75% of the interest, but not principal due and owing under land contract as of the petition date; instead limited to interest due for one week and to extent reasonably necessary for support of debtors. Any claimed amount in excess was disallowed.
Chapter 7 debtor, an inmate at correctional facility that had filed his petition pro se, sought a determination that the petition was "filed" prior to the effective date of BAPCPA, so that he did not have to comply with the credit counseling requirement. The court found the "prison mailbox rule" applied to the filing of a bankruptcy petition; thus, the pro se prisoner's petition was deemed "filed" on that date he delivered the petition and related documents to prison authorities for forwarding to the bankruptcy clerk.
Chapter 7 trustee brought an adversary proceeding to avoid, on a preference theory, loan payments that the debtors had made to their parents during the one-year preference period. The court granted summary judgment to the parents because the prepetition transfers met the requirements for the new value defense.
Judgment for restitution was nondischargeable obligation pursuant to 11 U.S.C. s. 523(a)(7).
Damages assessed against defendant for violation of automatic stay.
Because secured creditor did not give up its right to foreclose on the mortgage when it sought and obtained a personal judgment against the debtors, the debtor's objection to the creditor's proof of claim was overruled.
Chapter 13 debtors objected to the proof of claim filed by a creditor, based on the retail value of the vehicle securing it when the petition was filed. The court sustained the objection in part. For purposes of determining the creditor's secured claim, the value of the vehicle damaged in a postpetition accident was established at liquidation value as of the petition date.