MEMORANDUM OF DECISION JIM D. PAPPAS, Bankruptcy Judge Introduction Bank of America ("the Bank"), with its servicing agent BAC Home Loans Servicing, LP ("BAC"), foreclosed on property owned by 1601 West Sunnyside Drive No. 106, LLC ("Debtor"), after that company filed its bankruptcy petition under Chapter 11. 1 Upon learning of the foreclosure, and after providing the Bank and BAC (collectively "Creditors") a reasonable time to respond to notice that they had violated the automatic stay,...
MEMORANDUM OF DECISION TERRY L. MYERS, Chief Judge. INTRODUCTION The chapter 7 trustee, Jeremy Gugino ("Trustee") filed a motion to avoid or invalidate the lien of U.S. Bank National Association ("U.S. Bank") in real property owned by Debtors, relying on 544(a), 544(b) and 558. 1 Doc. No. 40 ("Motion"). U.S. Bank opposed Trustee's Motion. Doc. No. 44. 2 Recognizing that only a legal issue exists, the parties stipulated to the facts and presented oral argument on September 27, 2010....
MEMORANDUM OF DECISION JIM D. PAPPAS, Bankruptcy Judge. Introduction Chapter 7 1 debtors Rodney and Rolyndia Steiner ("Debtors") 2 both claim exemptions in the cash surrender value of various life insurance policies. Rodney is listed as the "owner" of all of the policies in the insurance providers' records. Trustee R. Sam Hopkins ("Trustee") objected to Rolyndia's claimed exemptions, Docket Nos. 17 and 24, relying on language in Idaho's exemption statutes indicating that a debtor may...
MEMORANDUM OF DECISION JIM D. PAPPAS, Bankruptcy Judge. Introduction Chapter 7 1 debtor Valerie Capps ("Debtor"), following her employment, moved from Colorado to Idaho in December 2006. Since moving, Debtor has rented an apartment in Rigby while continuing to own a home in Colorado. Debtor claims her Colorado property exempt pursuant to Idaho's homestead exemption statutes. The chapter 7 trustee, R. Sam Hopkins ("Trustee"), objected to that exemption claim and filed a motion compelling...
MEMORANDUM OF DECISION TERRY L. MYERS, Chief Judge. INTRODUCTION This is an adversary proceeding in which Financial Federal Credit Inc. ("FFCI") seeks a declaratory judgment to the effect that its auction of certain logging equipment was commercially reasonable. Chapter 11 debtor in possession Walter B. Scott & Sons, Inc. ("Debtor"), who pledged the logging equipment as collateral to secure financing from FFCI, and Debtor's four principals—Dennis Scott, James Scott, Bonnie Scott, and Kelly...
MEMORANDUM OF DECISION JIM D. PAPPAS, Bankruptcy Judge. Introduction After confirmation of Reed and Teri Hall's ("Debtors") chapter 13 plan, 1 and after approximately nine months of payments on that plan, Teri Hall was awarded Social Security Disability Income ("SSDI") benefits consisting of a lump sum of $44,377.50, 2 together with future payments of $1,133.00 per month 3 for an indefinite period. Docket Nos. 44, 52. In light of this development, chapter 13 trustee Kathleen A....
MEMORANDUM OF DECISION JIM D. PAPPAS, Bankruptcy Judge. Introduction The chapter 7 1 trustee, Gary L. Rainsdon, ("Trustee"), filed an objection to claim of exemption made by the debtors, Raymond James Haken and Ruth Ann Haken ("Debtors"). Docket No. 29. Debtors responded to that objection. Docket No. 31. The Court conducted a hearing concerning the claim of exemption and objection on August 2, 2010, and took the issues under advisement. The Court has considered the record and submissions...
