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New Cases For the Week of July 12, 2004 -
July 16, 2004
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- The Source for Business Bankruptcy Information on the Internet
July 14, 2004 |
Case |
Court |
Holding |
Fowler & Perth, Inc. v. Regan
(DBN Subscription Required) |
Bankr. Colo. |
Debt was nondischargeable under Colorado's Mechanic's Lien Trust Fund Statute which generally provides that funds disbursed under any construction project are to be held in trust for the payment of subcontractors. |
In re Lenox Healthcare, Inc.
(DBN Subscription Required) |
Bankr. De. |
Where a trustee failed to shoe excusable neglect for failing to effect service of an avoidance complaint within 120 days after the complaint was filed, the trustee's second motion to extend the time to serve the complaint was denied, and the case was dismissed, even though the statutye of limitations had run. |
Durrani v. ECMC
(DBN Subscription Required) |
Bankr. N.D. Il. |
Upon reconsideration, Debtor satisfied all three elements of the Brunner test and her student loan was discharged pursuant to 11 U.S.C. section 523(a)(8). Availability of income-contingent repayment plan did not preclude finding of undue hardship. |
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July 13, 2004 |
Case |
Court |
Holding |
In re Bankvest Capital Corp.
(DBN Subscription Required) |
1st Cir. |
A fully secured lender's acceptance of gap period payments from an alleged involvuntary debtor is a violation of the automatic stay, theoretically avoidable under 11 USC 549. However, upon return of the funds, the lender would be entitled to a fully secured claim against the returned funds under 11 USC 502(h), making avoidance pointless. |
In re Trism, Inc.
(DBN Subscription Required) |
8th Cir. BAP |
The bankruptcy court did not err in classifying an IRS claim arising out of an obligation imposed under 26 U.S.C. § 4481 as an excise tax entitled to priority treatment under 11 U.S.C. § 507(a)(8)(E). |
In re Johnson
(DBN Subscription Required) |
8th Cir. |
Because a debtor's lien on his ex-spouse's residence, awarded in a divorce, does not qualify as an interest inreal property under State law, it cannot be exempted using a homestead exemption. |
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July 12, 2004 |
Case |
Court |
Holding |
In re Strand
(DBN Subscription Required) |
9th Cir. |
Interim awards of statutory bankruptcy fees and expenses remained subject to bankruptcy court's reexamination and adjustment during course of proceeding.
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