MEMORANDUM REGARDING ATTORNEY FEES DUE FIRST BANK FOR ITS CLASS 3 CLAIM IN CONFIRMED PLAN HERB ROSS , Bankruptcy Judge . 1. SUMMARY OF RULING The debtor seeks to compel the restructuring of First Bank's oversecured $2.7 million Class 3 claim for just the amount of principal and interest owing, without including $41,800 in attorney fees claimed by First Bank. However, the debtor did not identify the amount comprising Class 3 with sufficient clarity in the plan to exclude attorney fees...
MEMORANDUM DECISION THAT FUNDS HELD BY CHAPTER 13 TRUSTEE SHOULD BE RETURNED TO DEBTOR HERB ROSS Bankruptcy Judge . The basis for ruling how the $17,253.11 in funds held by the chapter 13 trustee from plan payments should be distributed is set forth in sufficient detail to explain the court's ruling in the Proceeding Memorandum at ECF 260 on 09/06/16. The only open question was whether it was possible that these funds were from prepetition property of the estate. If the plan payments...
MEMORANDUM ON OBJECTION TO HOMESTEAD EXEMPTION GARY SPRAKER , United States Bankruptcy Judge . An evidentiary hearing on creditor Karen Montague's Objection to Homestead Exemption (ECF No. 15) was held on July 21, 2016. The court has considered the record herein and the testimony at the hearing. For the reasons stated below, the court will sustain the Objection, and disallow the debtor's homestead exemption. I. Case Background. Debtor Keith Vaughn filed his chapter 7 petition on March 30,...
MEMORANDUM ON JMJ PROPERTIES' MOTION FOR ALLOWANCE AND PAYMENT OF ADMINISTRATIVE CLAIM GARY SPRAKER , Bankruptcy Judge . JMJ Properties Companies 1 leased two properties to debtor JTS, LLC, one in Eagle River and the other in Wasilla. After the debtor filed its chapter 11 petition, it ultimately rejected the two leases with JMJ Properties, and vacated the two locations. JMJ Properties promptly filed its Motion for Allowance and Payment of Administrative Claim for Damages and Failure to...
MEMORANDUM GRANTING DEFENDANTS' MOTION FOR ATTORNEY FEES HERB ROSS , Bankruptcy Judge . Defendants' motion for attorney fees 1 will be granted. Defendant student lenders seek $11,130 for attorney fees for successfully defending against plaintiff debtor's adversary proceeding challenging that the defendants were appropriate educational lenders, and that the loans were appropriate claims, entitled to protection from nondischargeability under 11 USC 523(a)(8). The court granted defendants...
MEMORANDUM ON PLAN CONFIRMATION and FIRST BANK'S MOTION FOR RELIEF FROM STAY 1 GARY SPRAKER , United States Bankruptcy Judge . Hearings on approval of debtors Kenneth Bellows' and Fly-In-Fish, Inc.'s joint Disclosure Statement, confirmation of the debtors' Plan of Reorganization, and First Bank's Motion for Relief From Stay, were held on March 8 and 16, 2016. The court has thoroughly considered the evidence presented and the arguments of counsel. For the reasons stated below, the...
MEMORANDUM DECISION DENYING MOTION FOR SUMMARY JUDGMENT BY PLAINTIFF [ECF No. 12] AND GRANTING CROSS-MOTION BY DEFENDANTS [ECF No. 13] HERB ROSS , U.S. Bankruptcy Judge . INDEX Page No. 1. SUMMARY OF RULING ... 146 2. FACTS ... 146 3. LEGAL ANALYSIS ... 146 3.1. Summary Judgment Standards ... 146 3.2. 11 USC 523(a)(8) ... 147 3.3. Arguments of the Parties ... 147 3.4. The Loans are Qualified Under 11 USC 523(a)(8)(A)(i) [An Educational Loan Funded by...
MEMORANDUM DECISION REGARDING CROSS-MOTIONS FOR SUMMARY JUDGMENT HERB ROSS , Bankruptcy Judge . 1. SUMMARY OF DECISION — In 2009 Omni borrowed $1.3 million from FNBA. Part of the collateral under the 2009 Security Agreement was "Deposit Accounts." 1 The 2009 Security Agreement also contained future advances and cross-collateralization clauses. Omni paid off the 2009 loan in 2011. In 2013, Omni borrowed $2.6 million for equipment for a new grocery store in Bethel, Alaska. The...
REPORT AND RECOMMENDATION FOR WITHDRAWAL OF REFERENCE FROM BANKRUPTCY TO DISTRICT COURT [Alaska LBR 5011-1]. To: the Clerk of the Bankruptcy Court to forward to the United States District Court for the District of Alaska HERBERT A. ROSS , Bankruptcy Judge . SUMMARY OF RECOMMENDATION The district court must determine if the reference of this adversary proceeding to the bankruptcy court should be withdrawn. 1 A jury trial has been requested and the parties have not consented to it...
