OPINION AND ORDER DENYING EXEMPTION OF GIFT CARDS RANDOLPH J. HAINES, Bankruptcy Judge. Debtor has claimed that a $10,000 Safeway gift card is exempt as constituting six months of "food, fuel and provisions," and the Chapter 7 Trustee and PNC Bank have objected. The Court sustains their objections because a gift card is neither "food," "fuel" nor "provisions," nor were any such food, fuel or provisions "actually provided" to the Debtor as of the petition date. Background Facts Pursuant...
OPINION RE EXEMPTIONS FOR INSURANCE AND AUTO RANDOLPH J. HAINES, Bankruptcy Judge. The Chapter 7 Trustee and PNC Bank have filed timely objections to several of the exemptions claimed by Debtor David Glimcher. This decision addresses only the objections to the exemptions claimed for the John Hancock life insurance policy and the motor vehicle. The Life Insurance Exemption The Debtor has claimed an exemption for a John Hancock variable life insurance policy that has a cash surrender value...
OPINION DENYING PARTIAL SUMMARY JUDGMENT RE: MECHANICS' LIEN PRIORITY RANDOLPH J. HAINES, Bankruptcy Judge. The issue here is whether various mechanics' lien claimants, who claim priority dating from the commencement of construction in November 2006, have priority over a construction deed of trust that was recorded in May of 2007. Among other defenses, the construction lender asserts the doctrine of equitable subrogation gives it priority back to that of a prior deed of trust because a...
OPINION AND ORDER DENYING STAY PENDING APPEAL RANDOLPH J. HAINES, Bankruptcy Judge. Secured creditor Comerica Bank has appealed the Order confirming the Debtor's First Amended Plan of Reorganization, and has moved for a stay pending appeal pursuant to Bankruptcy Rule 8005. The Court granted Comerica an emergency hearing on its motion, and the Debtor has objected to the stay pending appeal. After consideration of the memoranda and oral arguments, the Court denies the stay pending appeal....
MEMORANDUM DECISION JAMES M. MARLAR, Bankruptcy Judge On December 29, 2010, this court heard argument on a motion filed by the Debtor to renew an existing lease and continue farming the leased ground through 2011 (ECF No. 47). An objection was filed by the current owner of the land, Stearns Bank, N.A. (ECF No. 51) FACTS The Debtor is a farming entity. It filed a Chapter 12 proceeding on December 31, 2009. Also filing were related entities, S&S Farms Partnership (09-33962) and Custom...
UNDER ADVISEMENT DECISION APPROVING CHAPTER 11 TRUSTEE'S FEE APPLICATION CHARLES G. CASE, II, Bankruptcy Judge. I. Introduction G. Grant Lyon agreed to become part of a Valley financial soap opera—the downfall of Mortgages Limited. It is a tale that includes suicide, empty buildings, and lost retirement savings. Mr. Lyon's role in the soap opera is that of Chapter 11 Trustee for Radical Bunny—a key investor in Mortgages Limited. Depending on your viewpoint, he is either yet another...
OPINION AND ORDER DENYING MOTION TO REMAND RANDOLPH J. HAINES, Bankruptcy Judge. This motion to remand raises essentially three questions: (1) what is the citizenship of a post-confirmation liquidating trust for purposes of diversity jurisdiction; (2) is litigation vested in a post-confirmation liquidating trust sufficiently "related to" the bankruptcy case for bankruptcy jurisdiction; and (3) may a bankruptcy court remand "on any equitable ground" if diversity jurisdiction also exists The...
ORDER ON CONFIRMATION RANDOLPH J. HAINES, Bankruptcy Judge. Pending before the Court is confirmation of the Debtor's First Amended Plan of Reorganization. The only objections to confirmation are those filed by the secured creditor Comerica Bank. Comerica objects that the plan is not feasible, that its classification of unsecured claims violates Bankruptcy Code 1122, 1 that the interest to be paid on its secured claim is too low, that the term of payment of its secured claim is too long,...
ORDER DENYING MOTION TO REMAND, IN PART, and ORDER TRANSFERRING VENUE TO TENNESSEE RANDOLPH J. HAINES, Bankruptcy Judge. Pending before the Court are Plaintiffs' motion to remand this removed state court action, and Defendants' motion to transfer venue to the United States Bankruptcy Court for the Eastern District of Tennessee, where is pending the Chapter 7 1 bankruptcy case of Phoenix EQ Holdings Company, Inc. Because the Court concludes this action is at least "related to" the Phoenix...
MEMORANDUM DECISION GRANTING PARTIAL SUMMARY JUDGMENT IN FAVOR OF MORTGAGES LTD. RANDOLPH J. HAINES, Bankruptcy Judge. The issue here is whether various mechanics' lien claimants, who claim priority dating from the commencement of construction in November 2006, have priority over a construction deed of trust that was recorded in May of 2007. Among other defenses, the construction lender asserts the doctrine of equitable subrogation gives it priority back to that of a prior deed of trust...
