Summary: Conversion from Chapter 11 to Chapter 7 is governed by 11 U.S.C.

Summary: The Deed of Trust held by BB&T against real property references a promissory note dated September 7, 2005. The actual promissory note, however, is dated September 8, 2005. Relying on Beaman v. Head (In re Head Grading Co.), 353 B.R.122, 123- 24 (Bankr. E.D.N.C. 2006), the Debtors attacked the validity of the lien. BB&T first argued that because the Debtor had executed a Change in Terms Agreement, explicitly affirming the note, it should be estopped from now contesting the enforceability.

Summary: In attempting to set aside a foreclosure, Johnson brought numerous state and federal lawsuits against Bank of America, its attorneys, and the Substitute Trustee, alleging FDCPA, UDTPA, and other claims. All of these suits were eventually dismissed, with obtaining on two occasions Rule 11 sanctions for attorneys’ fees.

Summary: The Homeowners argued that their mortgage closing was conducted by two non-attorneys, whose advice regarding their rights and obligations constituted the unauthorized practice of law under N.C.G.S. § 84-4. As such, relying on In re Foreclosure of a Deed of Trust Executed by Bradburn, 199 N.C. App. 549, 551, 681 S.E.2d 828 (2009), they argued that the contract was void and unenforceable. In Bradburn, the Court of Appeals had found that a mortgage made by a broker unlicensed under N.C.G.S.

Summary: Despite the Full Faith and Credit Clause of the U.S.

Summary: The Debtors moved to modify their Chapter 13 plan, surrendering two pieces of real property and seeking to reduce their plan payment to the lowest amount possible to pay a 100% dividend to unsecured creditors over a total period of 60 months. The Chapter 13 Trustee objected, seeking a higher monthly payment, which would have repaid the debts over a shorter period of time, on the basis that the Winns could afford the higher monthly payment.

Summary: This report publishes the survey results of the United States Consumer Law Attorney Fee Survey Report 2010-2011 for the ten largest U.S.

Summary: SRCR pledged a Piper Navajo Airplane as collateral for a loan to Park Sterling. After default on the loan, Park Sterling repossessed the airplane on February 3, 2012. SRCR filed a Chapter 11 bankruptcy on February 21, 2012.

Summary: MGHC filed a Proof of Claim, which was allowed as late-filed for $6 million, arising from lawsuit over a failed land development in New Jersey, where MGHC had provided funding to Mill Ridge Farms, whose principal, Kevin Wilk is is the managing member of Somerset Properties. MGHC had sued Mill Ridge Farms, Kevin Wilks and Somerset Properties alleging a civil conspiracy to convert property of and defraud MGHC, using funds intended for a New Jersey development project to finance the purchase of property in North Carolina for Wilk.

Summary: The Debtors guaranteed a $765,440.00 bridge loan with an adjustable interest rate, with range between 14% and 28%, and a 12 month term, with an option to extend the note for an additional 12 months. The Debtors filed Chapter 11 and proposed a 30-year amortization rate at 5% interest, to which the lender objected both as to the interest rate and the new term. At hearing, an expert in commercial real estate testified that there was no effective market for this loan, so the bankruptcy court turned to the formula approach outlined in Till v.