Summary:
This case involves two bankruptcy cases putatively filed by Melanie Mangum. At a hearing in November 2011, the Trustee raised several concerns regarding that case- First, no Power of Attorney had ever been presented authorizing Ms. Mangum’s husband, Donald Mangum, to represent his wife. The two parties also had several previous bankruptcies. Third, the Trustee had discovered (while reviewing Ms. Mangum’s Facebook statement that she enjoyed spending time at her beach house) that Ms. Mangum had unscheduled real property located at Carolina Beach. Further, Ms.
Summary:
The Debtor granted Royal Bank America (“RBA”) a first Deed of Trust against a 36-unit condominium complex, in the amount of $17,000,000 and also a “Put Agreement”, which obliged the guarantors of the Deed of Trust, to obtain permanent financing for 10 of the units. At the same time, the Edwards Family Partnership, L.P. (“EFP”) was granted a junior Deed of Trust for $3,000,000.
The RBA loan originally matured on July 1, 2009, but the Debtor exercised its right to extend the loan to January 1, 2010.
Summary:
The Debtor and Nicholas Stratas, the sole manager of the Debtor, agreed to a Consent Order, to allow and cooperate with Paragon in its foreclosure against real property owned by the Debtor. Despite this agreement, Stratas filed a motion to set aside the subsequent foreclosure proceeding because the Substitute Trustee mumbled and was rude at the Foreclosure Hearing, depriving him of the opportunity (preserved in the earlier Consent Order) to bid at the foreclosure.
Summary:
The Debtor filed a voluntary Chapter 11 case, but PNC Bank, the largest unsecured creditor, moved to dismiss the bankruptcy. The Debtor moved to convert to Chapter 7. The Bankruptcy Administrator supported dismissal.
The Bankruptcy Court first found that und 11 U.S.C. § 1124(b)(4) there were sufficient grounds to convert of dismiss the case.
Summary:
Trustee sought leave to amend a Complaint, which originally alleged fraudulent conveyances under 11 U.S.C. §§ 544 and 548 and N.C.G.S. § 39.23.4 and unjust enrichment, to add a claim for preferential transfers under 11 U.S.C. § 547. The Defendants, having already answered the Complaint, objected.
Leave to amend should be denied, therefore, “only when the amendment would be prejudicial to the opposing party, there has been bad faith on the part of the moving party, or the amendment would be futile.” Edwards v.
Summary:
The Debtor filed Chapter 7 and was the subject of a random audit. The audit determined that the Debtor had understated her Current Monthly Income by $4,572. In response, the Debtor filed multiple amendments variously showing net monthly income of $589.92 (original), $4,272.71 (first amendment), $2,446.71 (second amendment), or -$179.29 (third amendment).
The Bankruptcy Administrator moved to dismiss based on the schedules being a “moving target”.
Summary:
Medical Creditor obtained a judgment against the Debtor and Non-Filing Spouse, with such lien attaching to the property that the Debtor and the Non-filing Spouse own as Tenants by the Entireties. After filing Chapter 7, the Debtor sought to avoid, pursuant to 11 U.S.C.