OPINION CORNISH, Bankruptcy Judge. In these two substantively similar cases, the Chapter 7 trustees appeal the bankruptcy court's orders overruling their objections to exemptions claimed by the debtors. The debtors claimed as exempt their state and federal tax refunds attributable to the earned income tax credit under a Kansas bankruptcy-only exemption statute. The trustees objected, arguing primarily that their statutory strong-arm rights and powers defeated the debtors' exemptions. The...
KARLIN , Bankruptcy Judge . The issue we face is whether a debtor's wages need to be both earned and received during the applicable six-month "look-back" period in order to be included as part of his "current monthly income" under 11 U.S.C. 101(10A). Debtor Vede Jacob Miller ("Miller") timely appealed the bankruptcy court's order dismissing his Chapter 7 petition after the court determined that, when properly calculated, Miller's current monthly income ("CMI") disqualified him from...
SOMERS, Bankruptcy Judge. This group of consolidated appeals stems from a removed foreclosure action of a dairy in New Mexico. Embedded in them are three main issues: 1) whether a lien allegedly granted by a corrected mortgage that was not signed by the debtors can be avoided under 11 U.S.C. 544; 1 2) whether a lien on water rights was properly perfected under New Mexico law; and 3) whether the lender acted reasonably in enforcing the cross-collateral provision and insisting it receive all...
OPINION HALL, Bankruptcy Judge. The bankruptcy trustee seeks reversal by this Court of a bankruptcy court decision allowing the debtor to exempt certain personal property under Colorado's "tools of trade" exemption. The trustee objected to the claimed exemption on the ground that the debtor's business was not a "gainful occupation," as required by the exemption statute, because it was not "profitable" as of the date of the petition. We affirm the bankruptcy court's decision allowing the...
MOSIER, Bankruptcy Judge. Recharacterization is an equitable remedy that allows courts to ignore a party's characterization of a transaction and, instead, give effect to the transaction's actual substance. In bankruptcy cases, under certain circumstances, a transaction labeled as a loan may be recharacterized as an equity investment. In this case, William Karl Jenkins (Jenkins) and his wife Earlene Jenkins appeal the bankruptcy court's determination that funds they advanced should not be...
JACOBVITZ , Bankruptcy Judge . This appeal involves funds placed in escrow by the debtor to ensure the completion of improvements on property it sold. The debtor asks us to review, inter alia: 1) whether it was proper for the bankruptcy court to determine the parties' interests in the escrowed funds on summary judgment; 2) whether the funds are property of the estate; and 3) whether the bankruptcy court erred in dismissing the debtor's avoidance counterclaims for failing to state a claim...
541.09[2] at 541-50-51 ([m]ost courts have held, that assets in escrow are not property of the estate. Finally, we VACATE the Moot Orders, and REMAND the case to the bankruptcy court to rule on issues raised in ESTs, motion for summary judgment and its motion to stay scheduling order deadlines.
, Debtor Vede Jacob Miller (Miller) timely appealed the bankruptcy courts order, dismissing his Chapter 7 petition after the court determined that, when properly, calculated, Millers current monthly income (CMI) disqualified him from, proceeding under Chapter 7 of the Bankruptcy Code.
16 The Debtor, filed his answer on November 4, 2012. This motion was really an attempt to, circumvent the Bankruptcy Courts previous ruling striking Tals jury trial, demand because Tal indicated he had no objection to that court presiding over the, jury trial., 502 F.3d 1147 (10th Cir.
