ORDER ON TEXTRON FINANCIAL CORPORATION'S MOTION FOR RELIEF FROM STAY FILED PURSUANT TO 11 U.S.C. 362(d)(3) ROBERT E. NUGENT, Chief Judge. This single asset real estate case came before the Court on June 29, 2010 for evidentiary hearing on the motion of Textron Financial Corporation for relief from the automatic stay. 1 Textron contends that debtor has not "filed a plan of reorganization that has a reasonable possibility of being confirmed within a reasonable time," and that the stay...
MEMORANDUM OPINION AND ORDER ORDERING THAT SPIRITBANK BE ADDED AS A DEFENDANT DALE L. SOMERS, Bankruptcy Judge. This is an action by the Chapter 7 Trustee to avoid fraudulent transfers under 11 U.S.C. 544 and 548 1 and K.S.A. 33-204 and -205, and to recover the transferred property or the value of the property for the benefit of the estate under 550. The matter under advisement is the Motion to Dismiss filed by all Defendants, arguing the Complaint should be dismissed because the...
MEMORANDUM OPINION AND ORDER ON COMPLAINT FOR RESCISSION AND DAMAGES FOR VIOLATION OF THE TILA DALE L. SOMERS, Bankruptcy Judge. In this adversary case, Debtors Robert and Diane Regan (hereafter "Debtors" or "Plaintiffs") allege violations of the Truth in Lending Act, 15 U.S.C. 1601-1666j (hereafter "TILA") 1 occurred in connection with their home mortgage loan, entitling them to rescind the transaction almost three years after the closing, and to recover statutory damages and attorney...
MEMORANDUM OPINION ROBERT E. NUGENT, Chief Judge. These cross-motions for summary judgment seek the Court's determination whether certain truck lease agreements between Hitchin Post Steak Co. ("HPS") and General Electric Capital Corporation ("GECC") are true leases or disguised security agreements. These motions were argued to the Court on July 13, 2010. 1 At stake here is whether HPS must cure and assume these leases in order to retain its tractors and trailers under 11 U.S.C. 365 or...
MEMORANDUM OPINION AND ORDER DENYING MOTION TO DISMISS OF BANK OF AMERICA JANICE MILLER KARLIN, Bankruptcy Judge. This matter is before the Court on Defendant Bank of America's ("Bank of America") Motion to Dismiss. 1 Bank of America claims this adversary proceeding must be dismissed because Plaintiff/Debtor Bryant Manor, LLC ("Debtor") fails to allege sufficient facts to state a claim for relief as a matter of law. The Court has jurisdiction to hear this proceeding pursuant to 28 U.S.C....
MEMORANDUM OPINION AND ORDER ON MORTGAGE LIEN PRIORITY DISPUTE BETWEEN CEF FUNDING, L.L.C. AND PEOPLE'S BANK DALE L. SOMERS, Bankruptcy Judge. The question before the Court is the priority of the mortgage liens on Debtor's fee interest in real property located at 7335 W. 119th Street, Overland Park, KS (hereafter the "Overland Park Property"), which was one of the locations from which Debtor operated a Back Yard Burger restaurant. CEF Funding, L.L.C. (hereafter "CEF") claims a first priority...
