Summary: Prior to filing bankruptcy, the Meabons first consulted with an attorney who informed them that they would need to disclose, as an asset in his bankruptcy schedules, Richard Meabon’s interest in a trust. As a result of the first attorney’s advice, the Meabons chose to file with another attorney, to whom they did not disclose the existence of the trust. After filing Chapter 7 without disclosure of the trust either in their petition or at the §341 Meeting of Creditors, the deadline to object to discharge passed on June 1, 2010.

Summary: Plaintiffs brought suit against, among other, lenders that had financed mortgage loans for the development of investment properties, alleging that the appraisals conducted, which unanimously and uniformly valued real property lots, regardless of specific qualities or locations, for $500,000, the exact minimum to support the mortgage lender’s underwriting requirements, constituted both negligent underwriting and also an unfair trade practice. Following shortly after the Dallaire opinion from the North Carolina Supreme Court (see:

Summary: Corporate Debtor Abbington Partners, filed a Chapter 7 bankruptcy without representation by counsel. It had previously a bankruptcy in Massachusetts, which had been dismissed for lack of attorney representation. Reiterating that “[i]t has been the law for the better part of two centuries . . . that a corporation may appear in the federal courts only through licensed counsel.” In re Tamojira, Inc., 20 F. App’x 133, 133-34 (4th Cir.

Summary: Creditor, Two Olives, Inc., sought denial of the debtors’ discharge pursuant to 11 U.S.C. § 727(a)(2)(A) , asserting that“the debtor, with intent to hinder, delay, or defraud a creditor . . . has permitted to be transferred . . .

Summary: Siblings, Townsend and Simmons owned real property as tenants in common. Townsend brought suit seeking a partition sale of the property, naming Simmons the lienholder, Citimortgage and the City of Greensboro, as defendants. After the trial court found that due to the size and nature of the property actual partition of the property could not be made without injury to the parties and ordered a partition sale.

Summary: A quit claim deed, recorded with the Buncombe Register of Deeds on May 14, 2009, was blank as to the legal description and only included the handwritten entry “Parcel #960704498200000.”. On April 29, 2010, a “Affidavit of Correction” was recorded including the legal metes and bounds description. The Court of Appeals held that the quit claim deed was void as it inadequately described the property, holding that a tax PIN alone was insufficient. The Court distinguished Fisher v. Town of Nags Head, ___ N.C. App.

Summary: Following failed Chapter 11 bankruptcy, Five Wins obtained a declaratory judgment against Iris finding that Iris owed $894,711.24 to redeem real property from foreclosure. After Five Wins bid $875,000.00 for the properties, WA Ventures made a successful upset bid at the subsequent foreclosure in the amount of $918,750.00 and then assigned the bid to Five Wins.

Summary: The North Carolina Supreme Court affirmed the earlier opinion from the Court of Appeals that “the defenses preserved under North Carolina’s UEFJA are limited by the Full Faith and Credit Clause to those defenses which are directed to the validity and enforcement of a foreign judgment.” For a copy of the opinion, please see: DocRX v.

Summary: A provision of the Chapter 11 plan for National Heritage Foundation (“NHF”) provided that its officers, directors, and employees, the Unsecured Creditor Committee, and their successors and assigns (the “Released Parties”) were released from liability for any acts or omissions relating to NHF. Relying on Class Five Nevada Claimants v. Dow Corning Corp. (In re Dow Corning Corp.), 280 F.3d 648 (6th Cir. 2002), the Fourth Circuit considered (and found the plan of NHF lacking) the following factors in determining the valid of a third-party release: 1.

Summary: The Dallaire purchased their home in 1998 for $173,660.00. They filed a Chapter 7 bankruptcy in the Middle District of North Carolina, case number 05-53774, on October 13, 2005, and at that time had three mortgages against the property- the first and second mortgages were both held by Bank of America, in the amounts of $138,900 and $25,000, respectively, and a lien for a business loan to BB&T, in the amount of $241,449.37. The Dallaires received a discharge and did not reaffirm any of the three obligations.