Summary:

Judge Pamela McAfee overruled a Chapter 7 trustee’s objection to a North Carolina debtor’s homestead exemption claimed in real estate located not in Wake County, but in Corentyne Berbice, Guyana. The case highlights two recurring issues in exemption law: 

(1) whether a spouse living abroad may qualify as a “dependent” for purposes of N.C.G.S. § 1C-1601(a)(1), and 

Summary:

In this post-confirmation Chapter 11 dispute, the Bankruptcy Court for the Eastern District of North Carolina granted a motion by Fourth Elm Construction, LLC to compel arbitration and stay the adversary proceeding brought by the debtor, JSmith Civil, LLC. The adversary complaint asserted state-law claims for breach of contract and quantum meruit arising from a terminated subcontracting agreement. Fourth Elm relied on the contract’s Article 24 arbitration clause, invoking Section 3 of the Federal Arbitration Act (FAA).

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Judge Louise Flanagan ruled on two key post-certification motions in this putative class action concerning alleged abusive debt collection practices targeting North Carolina homeowners’ associations (HOAs).

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In this extensive Chapter 11 adversary proceeding, the Bankruptcy Court for the Eastern District of North Carolina ruled on cross-motions for summary judgment concerning a Merchant Cash Advance (MCA) agreement between the debtor, Williams Land Clearing, and Apex Funding Source. The court held that the MCA was a loan, not a true sale, and that it was criminally usurious under New York law with an effective interest rate of 101.1% per annum. As such, the MCA agreement was void ab initio.

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James Alston, claiming to  have been assigned FDCPA claims from a third party (Louis Greene), brought various claims against  National Credit Systems, Inc.  under the Fair Debt Collection Practices Act (FDCPA).   

Goddard, an above-median income debtor and Army veteran suffering from PTSD, proposed a plan in which he would retain three secured vehicles—a Corvette, a GMC Sierra pickup truck, and a Genesis sedan—while making minimal distributions to unsecured creditors.