Category Archives: Financing

Plan Valuation of Secured Claims: What Happens When Foreclosure Value Is Higher Than Without Foreclosure?

First Southern Nat’l. Bank v. Sunnyslope Housing Ltd. P’ship. (In re Sunnyslope Housing Ltd. P’ship.), 859 F.3d 637 (9th Cir. 2017) – A creditor appealed a bankruptcy court order valuing a secured claim at $3.9 million for purposes of a … Continue reading

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Surcharging Collateral: Amazing How Long People Can Fight over Money

Peters v. Clark (In re Bryan), 857 F.3d 1078 (10th Cir. 2017) – After a convoluted history of appeals and remands, issues relating to the sale of a residence by a chapter 7 trustee once again came before the 10th … Continue reading

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Stale Debt and the FDCPA: Unenforceable Does Not Necessarily Mean No Payment

Midland Funding, LLC v. Johnson, ___ U.S. ____, 137 S. Ct. 1407, 197 L. Ed. 2d 790 (2017) – The question before the court was whether filing a bankruptcy proof of claim for a debt where the limitations period has run … Continue reading

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Non-Recourse Loan Redux: Turning into Recourse and Back Again

Mastan v. Salamon (In re Salamon), 854 F.3d 632 (9th Cir. 2017) – A deed of trust creditor filed a claim in a Chapter 11 case contending that its nonrecourse loan was entitled to treatment as a recourse loan under section … Continue reading

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Plan Requirements: What Can You Do When a Party Fails To Comply With a Plan? – Good Question

In re Fierke, 567 B.R. 322 (Bankr. W.D. Mich. 2017) – A chapter 13 debtor requested sanctions against a creditor for a delay in releasing its lien on the debtor’s manufactured home as required under the debtor’s confirmed plan. After … Continue reading

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Federal Tax Liens: Be on the Lookout for Tax Lien Notices – Perfection and Priority Can Be Tricky

In re Aquatic Pools, Inc., 567 B.R. 376 (Bankr. D. N.M. 2017) – The IRS filed a proof of claim that included unpaid taxes, prepetition penalties and prepetition interest. The chapter 11 debtor objected to the IRS’ proof of claim … Continue reading

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“Duly Acknowledged” Is Not Enough: Play It Again Sam

James B. Nutter & Co. v. DeGiacomo (In re Reznikov), 567 B.R. 239 (D. Mass. 2017) – A chapter 7 trustee sought to avoid a mortgage – alleging that there was a defective acknowledgment certificate based on a failure to state … Continue reading

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