Summary:Bankruptcy Court Characterization of Equitable Distribution Awards
Cheryl Jones brought motions against the Debtor, her ex-husband, Sean Jones, seeking relief from the stay and for determination of Domestic Support Obligation, with the primary question being whether the family court’s Equitable Distribution Order award of $116,182 from the debtor’s 401(k) plan and $63,736 from the debtor’s retirement account were in the nature of a domestic support obligation, pursuant to §§ 101(14A) and 523(a)(5), or
Summary:
The parties in this case, where the Plaintiff alleged that personal identifying information had been disclosed in a Proof of Claim, reached a settlement but sought a Motion to Seal in order so that such settlement would not be construed as binding for similar claims.
The bankruptcy court, however, found that 11 U.S.C.
Summary:
The Alvarezes purchased their home in 2007 and refinanced in 2009 with PNC Mortgage servicing the loan for Fannie Mae. At that time the mortgage documents provided that the Alvarezes would maintain homeowner's insurance and property taxes directly, without an escrow account. The Alvarezes began to have financial difficulties in 2012, but were denied mortgage assistance by PNC.
Summary:
The Phillips filed a Chapter 13 bankruptcy and successfully avoided the judgment lien held by McInnis. The Order allowing the avoidance provided that:
3. The Judgment lien of the McInnises is declared to be void and shall be removed of record upon the completion of the Chapter 13 Plan of the Debtors and entry of the discharge in this case pursuant to Section 506 of the Bankruptcy Code.
4.
Summary:
In his Chapter 7 petition, Mr. Fields listed a 1987 Porsche 911 as non-operational and worth $500. The Trustee, however, obtained a on-site appraisal, which found the vehicle to be operable and worth between $12,000 and $30,000. After the Trustee declined to object, Mr. Fields did receive his discharge, but was unable to buy the vehicle from the Trustee. Instead he sought to have his discharge revoked and to convert to Chapter 13.
Relying on In re Marrama, 549 U.S. 365 (2007), the bankruptcy court held that due to both Mr.
Summary:
The Coopers had a home equity line of credit with First Bank. They refinanced their home with AHMS, which directed First Bank to close the line of credit, but the closing attorney failed to do so.
Summary:
Grimes owns real property with her husband as tenants by the entireties. After filing bankruptcy, she sought to avoid the fixing of three judgments at any later point against that property should it later cease to be held as tenants by the entireties, for example due to divorce or her husband’s death.
The bankruptcy court, dissenting from In re Corey, 2013 WL 3788239 (Bankr. E.D.N.C. 2013), held that 11 U.S.C.
Summary:
Abuharb filed his first Chapter 13 case, receiving a discharge on January 23, 2014, including any personal liability on a claim owed to Mission Valley Shopping Center (“MVA”) for a judgment in the amount of $38,093.14. At that time, Abuharb owned his residence at 8301 Rubblestone Path, but the Chapter 13 plan provided that the property was to be surrendered. When Abuharb subsequently obtained a loan modification for the mortgage on his residence, he neither modified the plan nor sought to avoid the judgment lien of MVA.
Summary:
After the sale of her home, Ms. Smith sought a plan modification to discontinue disbursements on the mortgage, which had until that point been paid as a conduit. The Chapter 13 Trustee requested that Ms. Smith provided amended Schedules I and J or other evidence of current income and expenses. This request was refused and the Trustee objected to the modification.
Starting from In re Arnold, 869 F.2d 240 (4th Cir. 1989) the bankruptcy court held that a post-confirmation required the following:
1.
Summary:
Mr. Powers is the owner of a 50% undivided interest in his home, which has a total value of $292,000.00. Bank of America holds a Deed of Trust against the entire property with a mortgage balance of $180,972.92. Mr. Powers also had three judgment liens against his interest, held, in order of seniority, by John Deere for $14,952.50, Evergreen for $4,617.48, and Farrar for $29,346.44. Upon filing of a Chapter 13 bankruptcy, Mr. Powers sought to avoid all three judgment liens as impairing his homestead exemption of $35,000.00.
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