Monthly Archives: February 2017

Disposition of UCC Collateral: “Everybody Does It”

Morgantown Excavators, Inc. v The Huntington Nat’l Bank (In re Morgantown Excavators, Inc.), 557 B.R. 469 (Bankr. N.D. W.Va. 2016) – Chapter 7 debtors sued a lender alleging violations of the Uniform Commercial Code (UCC) and other state law based … Continue reading

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Bankruptcy Sales: Buyers Are Not the Only Ones Who Should Beware

In Re Vista Marketing Group LTD., 557 B.R. 630 (Bankr. N.D. Ill. 2016) – The purchaser of property from a chapter 11 debtor was surcharged by a sanitary district for a connection fee that arose because the initial connection fee … Continue reading

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When the Debtor Holds a Junior Lien: Can a Senior Lien Creditor March On or Is It Stayed?

Invest Vegas, LLC v. 21st Mortgage Corp. (In re Residential Capital, LLC), 556 B.R. 555 (Bankr. S.D. N.Y. 2016) – A debtor held a note secured by a first priority deed of trust on property that was also subject to a … Continue reading

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IRS Lien Release: Does Release of A Lien Necessarily Mean That The Underlying Tax Liability Was Satisfied?

Lewis v. IRS (In re Lewis), 557 B.R. 233 (M.D. Ala. 2016) – A chapter 13 debtor objected to a proof of claim filed by the IRS on the grounds that a previously issued Certificate of Release of Federal Tax … Continue reading

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