Tag Archives: bankruptcy procedures

Disclosing Assets: You Cannot Have Your Cake and Eat It Too

Fornesa v. Fifth Third Mtg. Co., 897 F.3d 624 (5th Cir. 2018) – A debtor and his son sued a bank for foreclosing on property that the debtor acquired from his son postpetition while the automatic stay was in effect. Litigation … Continue reading

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Automatic Stay Relief: Where Best to Untangle Joint Ownership Interests?

In re Guy, 587 B.R. 475 (Bankr. E.D.N.C. 2018) – A chapter 7 debtor and his sister jointly owned real property as tenants-in-common. The sister moved for relief from the automatic stay in order to commence a state court action for … Continue reading

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Exemption for Government Assistance: How Needy Is Needy?

Hanson v. Seaver (In re Hanson), 903 F.3d 793 (8th Cir. 2018) – A chapter 7 trustee objected to a debtor’s exemption claim for a state property tax refund. The bankruptcy court sustained the objection; the Bankruptcy Appellate Panel affirmed on … Continue reading

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Plan Enforcement: Beware of Advisory Opinions

In re Cubic Energy, Inc., 587 B.R. 849 (Bankr. D. Del. 2018) – Two nondebtor parties sought a bankruptcy court order interpreting and enforcing provisions in a confirmed plan of reorganization that addressed certain litigation and barred further claims. The court … Continue reading

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Delinquent Property Tax Sales and the Equity of Redemption: When Is Property Really, Really, Really Gone?

Reverend C.T. Walker Housing Dev. Fund Corp. v City of N.Y., 586 B.R. 534 (E.D.N.Y. 2018) – A bankruptcy court denied a debtor’s motion to sell real property and granted a motion for relief from the automatic stay in a related … Continue reading

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Wraparound Mortgages: Sorting Things Out

In re Tejeda, 586 B.R. 831 (Bankr. W.D. Tex. 2018) – In connection with acquisition of real property a debtor executed a wraparound mortgage in favor of the sellers. The original note and deed of trust executed by the sellers remained … Continue reading

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Designating Votes: Selfish Informed Self Interest v. Untoward Advantage

Pacific Western Bank v. Fagerdala USA-Lompoc, Inc. (In re Fagerdala USA-Lompoc, Inc.), 891 F.3d 848 (9th Cir. 2018) – A secured creditor sought to block a Chapter 11 plan of reorganization by purchasing claims from some of the creditors in the … Continue reading

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