New Cases - Week of January 7, 2008

New Cases For the Week of January 7, 2008 - January 11, 2008

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January 9, 2008
Case	Court	Holding

In re Fridley
(DBN Subscription Required)

9th Cir. BAP

A Ch. 13 debtor may not pay off a plan early with a lump sum payment unless he obtains a Court-approved modification of the plan.

In re SNTL Corp.
(DBN Subscription Required)

9th Cir. BAP

The return of a preferential payment by a creditor generally revives the
liability of a guarantor which had previously been extinguished as a result of the preferential payment by the debtor.

An unsecured creditor who has a pre-petition entitlement to attorney fees may include post-petition attorney fees incurred litigating with a debtor as pat of its claim.

January 8, 2008
Case	Court	Holding

In re American Home Mortgage, Inc. (DBN Subscription Required)	Bankr. DE	Under the facts of the case and the plain meaning of section 101(47) of the Bankruptcy Code , the contract for the sale and repurchase of mortgage loans in this case is a "repurchase agreement" under the statute and the "safe harbor" provisions of sections 555 and 559 of the Bankruptcy Code are applicable.
In re Mayco Plastics (DBN Subscription Required)	Bankr. ED MI	The statutory requirement that a § 364(c)(1) claim must be paid before all administrative expenses are paid precludes that § 364(c)(1) claim from also, simultaneously, being itself a kind or form of an administrative expense allowable under § 503(b)(1) of the Bankruptcy Code

January 7, 2008
Case	Court	Holding

In re Baum (DBN Subscription Required)	5th Cir	Litigants "have wasted the time and money of the defendants and the scarce resources that the taxpayers entrust to the judiciary. They have flouted the authority of this court-an authority they invoked. They have no concept of the purpose and function of the courts."
In re Rogers (DBN Subscription Required)	5th Cir.	The homestead exemption cap applies to a homestead interest established within the 1,215-day period preceding the filing of the bankruptcy petition does not apply when the debtor acquired title to the property before that statutory period.