Summary: The Chapter 13 Debtors owned 26 lots in the Waterside Villages, secured by a Deed of Trust to the Bank of Currituck, which had foreclosed on the properties on July 29, 2009. Waterside Villages filed a Proof of Claim asserting homeowners dues of $77,844.00. The Debtors objected to the Proof of Claim on basis that they had been denied access to the properties after Wachovia Bank foreclosed on the subdivision developer, preventing the Debtors from marketing the properties.
Proof of Claim
By Ed Boltz, 10 October, 2012
Summary: Under the test formulated by the Supreme Court in Stern v. Marshall the court may enter final judgment in a core proceeding where "the action at issue stems from the bankruptcy itself or would necessarily be resolved in the claims allowance process." Stern, 131 S. Ct. at 2618. Where a defendant has filed a proof of claim, a fraudulent transfer action brought under either section 548 or section 544 becomes a part of the process of allowance and disallowance of claims. See Langenkamp v. Culp, 498 U.S.
By Ed Boltz, 7 February, 2012
Summary: Creditor filed its Proof of Claim six(6) days after the bar date. Following the objection to the Claim by the Chapter 7 Trustee, the Creditor argued that the claim should be allowed due to excusable neglect. The bankruptcy court held that under Rule 9006(b)(3), it had no authority to extend the time to file claims. For a copy of the opinion, please see: Meredith- No extension of time to file Proof of Claim.PDF
By Ed Boltz, 3 February, 2012
Summary: Prior to the filing by Circuit City of a Chapter 11 bankruptcy, Gentry commenced a class action lawsuit against Circuit City, but the class certification was pending at the time the bankruptcy was commenced. (Three other Named Claimants/Appellants were similarly situated with undecided class certifications.) The Named Claimants then filed Proof of Claim on behalf of themselves and "all those similarly situated." Circuit City and the Trustee objected to these claims on the basis that the Named Claimants had failed to seek authorization from the court under Rules