Summary:
In determining whether 11 U.S.C. § 707(b) was applicable, the bankruptcy court held that despite the debtors having thirteen consumer debts totaling $296,775.43 and eight business debts totaling $294,595.56, â[b]ecause of how easily a mortgage can skew the claims in favor of consumer debtâ the debt secured by real property should be excluded from this consideration. In re Jones, 2009 WL 102442, *1 (Bankr. E.D.N.C. Jan. 12, 2009) (citing In re Booth, 858 F.2d 1051, 1054 (5th Cir. 1998)).
By Ed Boltz, 10 November, 2017
Abstract:
By compiling a novel data set from bankruptcy court dockets recorded in Delaware between 2001 and 2002, the authors build and estimate a structural model of Chapter 13 bankruptcy. This allows them to quantify how key debtor characteristics, including whether they are experiencing bankruptcy for the first time, their past-due secured debt at the time of filing, and income in excess of that required for basic maintenance, affect the distribution of creditor recovery rates.
By Ed Boltz, 9 November, 2017
Summary:
On March 23, 2017, the bankruptcy lifted the automatic stay for Peak Leasing with regard to one of four trailers Mr. Price had obtain from Peak and took under advisement whether the remaining claims were âtrue leasesâ or disguised PMSIs.
By Ed Boltz, 9 November, 2017
Summary:
Mr. And Mrs. Cox, through their then attorney, entered into a settlement agreement in a civil forfeiture action brought for the collection of taxes, wherein they agreed to pay the government more than $3 million and granted Deeds of Trust against thirty-five tracts of land located throughout Alabama and North Carolina. After entering into this settlement, the government then initiated criminal prosecution of both of the Coxes and they subsequently pleaded guilty, with Mr. Cox being sentence to 33 months imprisonment, Mrs.
By Ed Boltz, 9 November, 2017
Summary:
Ms. Collins, representing herself pro se, in an action alleging multiple claims arising from a mortgage lending scheme by the defendants failed to comply with multiple orders regarding discovery. Upon the motions of the defendants, the district court (lamenting that no attorneys from the Pro Bono Panel had stepped up to assist Ms. Collins) applied the four-part test from Belk v. Charlotte-Mecklenburg Bd. of Educ., 269 F.3d 305, 348 (4th Cir.
By Ed Boltz, 9 November, 2017
Summary:
Following receipt of an Reaffirmation Agreement from World Omni, the Macys completed and signed the statutorily prescribed form and both returned the documents to World Omni and filed a copy with the bankruptcy court.
The bankruptcy court sua sponte held that the filing of the Reaffirmation âabsent a signature of an authorized representativeâ of World Omni was improper and of no binding effect, despite that it may be necessary for a debtor to establish that the requirements of 11 U.S.C.
By Ed Boltz, 9 November, 2017
Summary:
Through the lense of cases, Prof. Mann examines how the Supreme Court has interpreted Bankruptcy Code in recent decades, positing that while bankruptcy cases are not among the âbig questionsâ that attract the attention of law clerks and the media, they are not quite the âdogsâ of the Supreme Court docket that tax cases might be. P. 2. Using the briefs, news archives and the available papers of the Justices themselves, Prof. Mann concludes that the Supreme Court decisions are âreplete with back-and-forth negotiations about the precise wording of opinions, chang
By Ed Boltz, 11 September, 2017
Summary:
Reserve Homeowners Association commenced a foreclosure against residential rental property owned by Ms. Ackah for unpaid homeownerâs association dues. Notice of the sale was left at the property and notices sent (and returned unclaimed) to other family members. Ultimately, the property was purchased by the Jones Family Holdings a the sale. Finding that Ms. Ackah did not receive actual notice of the foreclosure , the superior court accordingly set aside the sale.
The majority of opinion of the Court of Appeals held that N.C.G.S.
By Ed Boltz, 11 September, 2017
Summary:
After nearly 35 years of marriage, Â Thomas Leviner and Kathy Leviner divorced and negotiated a Settlement where the parties prior marital residence was retained jointly for their children to inherit, Â but with Mr. Â Leviner to make the mortgage payments and Ms. Â Leviner to retain the property during her lifetime (unless she remarried.) Â Mr. Â Leviner was also pay alimony of $300 a week until Ms. Â Leviner turned 67 years old. Â In 2015, after refinancing the house, Mr. Â Leviner sought to offset the mortgage payments from the alimony being paid. Â This was rejected by Ms.
By Ed Boltz, 11 September, 2017
Summary:
The bankruptcy court denied Mr.