Summary:
Plaintiff in a non-dischargability action sought summary judgment based on judgment entered by Judge Jolly on August 17, 2009. The Debtors/Defendants, however, produced the entire state court file, showing both that Judge Stephens had dismissed the action on May 19, 2009, and that there was nothing showing the Debtors/Defendants received notice of the litigation pending before Judge Jolly.
Finding that the Debtors/Defendants had not had "an adequate opportunity or incentive to obtain a full and fair adjudication in the initial action." Metropolitan H
Summary:
Creditor filed a Notice of Mortgage Payment Change and contemporaneously filed a Notice of Post-Petition Mortgage Fees, asserting a $50.00 fee for filing the Notice of Mortgage Payment Change.
On the objection of the Chapter 13 Trustee, the Court disallowed this fee, finding that the Notice of Mortgage Payment Change was "nothing more than a clerical duty" and did not require the assistance of legal counsel.
Commentary:
This opinion apparently independently comes to the same conclusion as did Judge Mayer of the Eastern District of Virginia, in&nbs
In three separate Orders in the same case, which began as a Chapter 11 and later converted to Chapter 7, the Court looks at the allowance of administrative expenses.
Starting from the case of Murray’s Lessee v. Hoboken Land & Improvement Co., 59 U.S. (18 How.) 272 (1855), this article looks at the roots of the recent decision in Stern v. Marshall, 131 S. Ct. 2594 (2011). In Murray’s Lessee, the U.S.
This article provides a detailed examination of the structure, sources, and ultimate content of the Islamic law of distressed debt. With specific illustrations from the Qur'an, sunna, and fiqh (Islamic jurisprudence), it orients non-specialists on the path to understanding where Islamic law comes from, how it is structured, and what its most salient provisions say about the proper treatment of insolvent debtors.
Summary:
Because of the language of the lease, the bankruptcy court held that a lease had terminated (and consequently could not be assumed in a later bankruptcy case) following default and written demand by the Leasor of payment of past due rent within 10 days. Specific notice of termination of the lease was not required.
For a copy of the opinion, please see:Salon America- Date of and Requirement for Termina
The Trustee sought a 2004 Exam and documents from First Citizens Bank ("FCB"), based on a belief that the Debtor had used a checking account at FCB in connection with a Ponzi scheme. FCB sought to quash this discovery, arguing that the Trustee was on a fishing expedition to establish claims against FCB in relation to the alleged scheme.
Summary:
Despite testimony from the Debtors that they anticipated a substantial decrease in income due to loss of overtime, the court found that it was the circumstances at the time of the hearing that controlled. Taken with the Debtors’ retention of a boat, their failure to disclose tax refunds, overtime and bonuses, and continued 401k contributions, dismissal was appropriate.
For a copy of the opinion, please see:
Croatan Surf Club filed a single asset real estate Chapter 11, with such real estate subject to a lien by Royal Bank America ("RBA"). In compliance with 11 U.S.C. § 362(d)(3), Croatan filed a Second Amended Plan within 90-days of filing the bankruptcy, but RBA sought relief from stay, arguing that such plan was patently unconformable and was also nullified by the filing of a Third Amended Plan, outside of the 90-day window.
Summary:
Swartville owed TD Bank $1,615,000, secured by real property and guaranteed by the three principals of the company. Following default and rather than foreclosing on the property, TD Bank brought suit against the guarantors. Swartville then filed Chapter 11, proposing to surrender the real property in satisfaction of the debt. TD Bank objected that such plan was not filed in good faith, as it was intended solely to benefit the guarantors by forcing TD Bank to take the real property in reduction of the debt.
Applying the two-prong good faith test dev
