OpinionsJudicial estoppel does not apply to block claim of debtor who had inadvertently neglected to schedule claim and who cured the omission as soon as she learned of it. Also, Trustee had succeeded to claim and was not judicially estopped by debtor's omission. In re Boden & Lundi Perry, Case No. 05-24027 (August 2006) -- Judge M.D. McGarity Debtor was allowed to exempt his interest in Simplified Money Purchase Keogh Plan under Wis. Stat. s. 815.18(3)(j). In re Anthony & Jennifer Rodriguez, Case No. 05-34551, Michael F. Dubis, Trustee v. Homecomings Financial Network, et al., Adv. No. 06-2028 (August 2006) -- Judge M.D. McGarity Trustee filed complaint to avoid mortgage as preferential transfer under s. 547(b). Trustee entitled to judgment; avoided mortgage was preserved for benefit of estate. Trustee was not entitled to recover the amount of payments received by defendant postpetition. In re Guzman, 345 B.R. 640 (July 2006) -- Judge S.V. Kelley Under BAPCPA § 1325(b)(3), reasonably necessary expenses to be deducted to determine disposable income of above-median debtors are based on Form B22C, not Schedule J. Am. Family Mut. Ins. Co. v. Addison (In re Addison), 05-2583 (unpublished) (July 2006) -- Judge S.V. Kelley Debtor borrowed vehicle without permission and damaged the vehicle. Resulting debt to insurance company was dischargeable under § 523(a)(6). Blomberg, et al -v- Riley (In re Elizabeth F. Riley) (July 2006) -- Judge J.E. Shapiro The court denied the debtor's discharge under 11 U.S.C. § 727(a)(2)(B) by applying the reverse alter ego theory and finding that the debtor's failure to list certain real estate owned by a corporation in which the debtor was the majority and controlling shareholder and which had significant personal value to her, constituted a concealment of estate property with the intent to defraud the bankruptcy trustee. The court also denied the debtor's discharge under 11 U.S.C. § 727(a)(4)(A), and found that the debtor's listing of her corporate stock interest at a zero value in her schedules constituted a false oath. In re Kirchen, 344 B.R. 908 (July 2006) -- Judge S.V. Kelley Inherited IRA is not exempt as a retirement benefit under Wis. Stat. § 815.18(3)(j). In re Rick E. Larson, Case No. 04-34605, Larry Liebzeit, Trustee v. Universal Mortgage Corporation v. Debtor, Adversary No. 05-2030 Published: In re Larson, 346 B.R. 486 (June 2006) -- Judge M.D. McGarity Chapter 7 trustee brought an adversary proceeding to avoid lender's mortgage lien. The court granted the lender's motion for summary judgment. The prepetition mortgage was invalid due to the failure of the debtor's spouse to sign the mortgage. Nevertheless, the secured creditor was equitably subrogated to the earlier mortgage, and the trustee as a hypothetical bona fide purchaser did not defeat its rights under that mortgage. In Re Spears, 06-21015 (June 2006) -- Judge P. Pepper Section 109(h) of BAPCPA does not require a debtor to wait a day between the day she obtains her credit briefing and the day she files her petition for relief. A debtor who obtains the credit briefing at any time during the 180 days prior to the moment she files her petition has complied with section 109(h). In re Estrada, No. 03-33013-svk (unpublished) (June 2006) -- Judge S.V. Kelley In a pre-BAPCPA case, after secured vehicle was totally destroyed in an accident, secured creditor's recovery of insurance proceeds was limited to the amount of the allowed secured claim (net of payments received under the plan) as determined by Debtor's confirmed chapter 13 plan. Plan provided that property did not revest in debtor at confirmation; accordingly excess proceeds had to be paid to the Trustee. |