Liquidating damages calculation for hud dating a third year resident
The law firm filed a claim against the debtor, and the debtor, succeeded in interest by a Plan Trust, objected to claim of law firm. Valkenet Trustee sought preferential avoidance of deed of trust perfected within 90 days prior to bankruptcy petition date. Keir, Chief J., held that the creditor was entitled to be equitably subrogated to the lien position held prior to the refinance transaction despite recording its new lien beyond ten days after the promissory note was signed on a date within the preference period and filing a certificate of satisfaction prior to recordation of its new lien. Debtors, who were married, but in separate cases, opposed the motions and the court held a lengthy evidentiary trial. Keir, Chief J., explaining the different analyses of the applicable Bankruptcy Code sections, held that cause existed under both 11 U. The court found that the appropriate remedy was the appointment of a chapter 11 Trustee who could further assess whether there was any means for a financial reorganization. (In the matter of the Administrative Claim of Moody’s Wall Street Analytics) Held, (1) Chapter 11 debtor corporation had standing to reject executory contract notwithstanding the fact that the debtor’s parent corporation was the contracting party and not the debtor, where the obligee demanded payment from the debtor and the debtor was unwittingly in possession of the claimant’s computer equipment on the petition date; (2) debtor may reject an executory contract to which it was not a party in the exercise of its sound business judgment based upon the reasonable belief that the debtor might be liable for performance of the contract; (3) debtor’s rejection of an executory contract is not an acknowledgment of indebtedness per se; (4) while rejection of an executory contract may give rise to an unsecured claim and/or an administrative claim against the bankruptcy estate for breach of contract, administrative claimant seeking rejection damages bears burdens of proving damages and that the debtor was obligated to perform the contract, particularly where the debtor is not a party to the rejected contract, but might be liable on some other basis; (5) debtor’s rejection of an executory contract to which it was not a party did not give rise to a claim for any damages against the bankruptcy estate where administrative claimant failed to prove both debtor’s obligation to perform the contract and that debtor’s rejection thereof caused damage to the claimant. Held, Section 503(c)(1) requirements not satisfied by the agreement of the purchaser of Chapter 11 debtor corporation’s stock (pursuant to confirmed plan) to pay the same compensation as that proposed by the KERP, because the agreement to match the debtor’s KERP was not a bona fide job offer as not coming from a different business, and therefore not an offer in competition with the KERP. The Debtor, an experienced real estate developer, sought to refinance an existing loan secured by a first lien on the real property at issue. Furthermore, the court found that the automatic stay did not apply to Florida actions that had been commenced against the officers, employees and shareholders pursuant to 11 U. In complaint for declaratory judgment that tax debt owed to State of Maryland for years 1992 to 1996 was dischargeable in bankruptcy, debtor had filed returns for those tax years but had not filed a report of federal adjustment after the IRS audited her and found additional income. § 523(a)(1)(B)(i) because a report of federal adjustment is not the type of “equivalent report” of which the failure to file would render tax debt nondischargeable. Held, collateral estoppel did not apply to render State court judgment nondischargeable under 523(a)(2)(A) because it was not based on the debtor’s intent not to perform a contract; further, collateral estoppel did not apply to render State court judgment nondischargeable under 523(a)(2)(B) because it was not based upon a written misrepresentation of financial ability. The Court, in concluding pursuant to well established law that a genuine benefit to the estate must be established, found that: (1) conclusory and bald averments that the Receiver and Counsel’s work tended toward the preservation and benefit of the estate was not sufficient; (2) reduced compensation for the Receiver would be awarded only for the ten-day pre-petition period; (3) Counsel was not entitled to any compensation, as his time records did not provide any evidence that his work tended toward the preservation or benefit of the estate. Debtor filed an amended list of exemptions on the eve of a consensual conversion from Chapter 11 to Chapter 7. § 341(a) meeting, objecting to the remaining exemptions taken.
In any case in which the Agency is acting as receiver, the Agency shall place the regulated entity in liquidation and proceed to realize upon the assets of the regulated entity in such manner as the Agency deems appropriate, including through the sale of assets, the transfer of assets to a limited-life regulated entity established under subsection (i), or the exercise of any other rights or privileges granted to the Agency under this paragraph.For continuing activities under the heading "Rental Assistance Demonstration" in the Department of Housing and Urban Development Appropriations Act, 2012 (Public Law 112–55), and in accordance with priorities established by the Secretary, ,000,000, to remain available through September 30, 2020: Provided, That such funds shall only be available to properties converting from assistance under section 9 of the United States Housing Act of 1937 (42 U. C 1437g) or under section 202(c)(2) of the Housing Act of 1959 (12 U. The Budget expands this authority to enable Section 202 Housing for the Elderly Project Rental Assistance Contracts (PRACs) the option to also convert to Section 8 contracts. Under existing authorities, Public Housing Authorities (PHAs) and other owners of rental properties assisted under the Public Housing, Moderate Rehabilitation (Mod Rehab), Moderate Rehabilitation Single-Room Occupancy (Mod Rehab SRO), Rent Supplement (Rent Supp) and Rental Assistance Payment (RAP) programs are offered the option to convert their properties to Section 8 contracts.Any concealment of the books, papers, records, or assets of the regulated entity, or any refusal to submit the books, papers, records, or affairs of the regulated entity, for inspection to any examiner or to any lawful agent of the Director.The regulated entity has incurred or is likely to incur losses that will deplete all or substantially all of its capital, and there is no reasonable prospect for the regulated entity to become adequately capitalized (as defined in section 4614(a)(1) of this title).
The Court denied the arbitration demand as untimely and because it conflicted with an aspect of bankruptcy law. Pudinski Counsel for Mazda American Credit; Michael Klima Chapter 7 Debtors and Creditor filed a joint motion to allow Debtors to assume prepetition vehicle lease. The Court found that Plaintiff’s Section 523(a)(2)(A) claim failed because the Debtor’s omission or active misrepresentation regarding the Plaintiff’s lien status was a statement regarding the Debtor or an insider’s financial condition and outside that section’s scope. Debtor also argued that: (a) property exempted as tenants by the entirety was completely severed from the estate and was not subject to the claims of any creditors, (b) he was entitled to take exemptions allowed by the state of Florida, and (c) his exemptions of non-marital estate property were not limited by the exemption values that he assigned to such property. § 341(a) meeting prescribed by Rule 4003(b)(1) does not apply to exempt property that had already re-vested in the Debtor; the Chapter 7 trustee’s amended objection to the Debtor’s amended list of exemptions was consequently untimely; that nevertheless, the long settled law in this Circuit provides that property held as tenants by the entirety may be administered by the trustee for the benefit of joint creditors whether a party files a timely objection or not; the Debtor, a Maryland resident for the relevant statutory period, may only utilize those exemptions provided by Maryland law; and the value of the Debtor’s permissible exemptions shall be limited by the dollar amount ceilings that he assigned to his claimed exemptions. § 1325 and arguing that debtors improperly deducted monthly secured debt payments on real property that they were surrendering on Form B22C. In Watson, Judge Keir held that disposable income as calculated on Form B22C is the presumptive “projected disposable income” for application of Section 1325(b)(1)(B). Chapter 7 trustee filed opposition to secured creditor’s motion for relief from the automatic stay as to the debtor’s residence, but the trustee did not attend the hearing on motion, which was granted after the secured creditor’s presentation of evidence.