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    In re Kempff
    2017-02-02

    (7th Cir. Jan. 30, 2017)

    Filed under:
    USA, Kentucky, Banking, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Seventh Circuit
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    In re Elkins
    2016-11-28

    (Bankr. E.D. Ky. Nov. 22, 2016)

    The bankruptcy court grants the creditor’s motion to modify the stay to allow the creditor to proceed with the state court real property foreclosure action. The court finds that cause exists for stay relief for reasons including that this second bankruptcy filing by the debtor was pending for three months, the debtor’s plan depended on a sale of the property, the debtor had not taken any action to proceed with the sale, and there was no proof that the debtor’s spouse (co-owner of the property) would consent to the sale. Opinion below.

    Filed under:
    USA, Kentucky, Insolvency & Restructuring, Litigation, Real Estate, Stoll Keenon Ogden PLLC
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    In re Mustafa
    2016-09-27

    (Bankr. E.D. Ky. September 14, 2016)

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Wittman v. Koenig
    2016-07-27

    (7th Cir. July 26, 2016)

    The Seventh Circuit interprets a Wisconsin exemption statute applicable to annuity contracts. The statute provides that such a contract is exempt from assets available to creditors so long as it “complies with the provisions of the internal revenue code.” The trustee argued for a narrow interpretation of this language, while the Court ultimately agrees with the broader interpretation of the statute employed by Wisconsin bankruptcy courts. Opinion below.

    Judge: Hamilton

    Attorney for Debtors: Dewitt Ross & Stevens S.C., Craig E. Stevenson

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Tax exemption, Statutory interpretation, Life annuity, Internal Revenue Service (USA), United States bankruptcy court, Seventh Circuit, Trustee
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    In re Thornton
    2016-05-25

    (Bankr. S.D. Ind. May 23, 2016)

    The bankruptcy court sustains the creditor’s objection to the proposed Chapter 13 plan, finding the creditor’s expert more credible than the debtor’s expert as to valuation of the debtor’s mobile home. Thus, the the creditor’s secured claim was higher than the amount provided for in the plan. The court also holds that certain of the appliances in the home are not accessions and thus are not subject to the creditor’s lien. Opinion below.

    Judge: Moberly

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Siragusa v. Collazo (In re Collazo)
    2016-04-07

    (7th Cir. Apr. 5, 2016)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, United States bankruptcy court, Seventh Circuit
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Schaumburg Bank & Trust Co., N.A. v. Alsterda
    2016-03-07

    (7th Cir. Mar. 4, 2016)

    Filed under:
    USA, Kentucky, Company & Commercial, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, United States bankruptcy court, Seventh Circuit
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Cox v. Specialty Vehicle Solutions, LLC
    2017-11-14

    (6th Cir. Nov. 14, 2017)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Sixth Circuit
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    In re Lexington Hospitality Group, LLC
    2017-09-25

    (Bankr. E.D. Ky. Sep. 15, 2017)

    The bankruptcy court denies the lender’s motion to dismiss the Chapter 11 bankruptcy. The lender argued that the party signing the debtor’s petition did not have the requisite authority to commence a bankruptcy case for the debtor. The bankruptcy court finds that amendments to the debtor’s operating agreement were made for the sole purpose of eliminating the debtor’s ability to file for bankruptcy without the lender’s consent. The court finds this violates Federal public policy and the provisions are unenforceable. Opinion below.

    Judge: Schaaf

    Filed under:
    USA, Kentucky, Banking, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC
    Ball v. United Cumberland Bank (In re Ball)
    2017-07-21

    (Bankr. E.D. Ky. July 17, 2017)

    The bankruptcy court dismisses the debtor’s complaint seeking to avoid a transfer to the bank defendant. The transfer consisted of the Bank exercising its contractual setoff right and applying funds in the debtor’s bank account to the Bank’s claim. The transfer occurred while the bankruptcy case was dismissed. The debtor fails to state a claim that is plausible on its face. Opinion below.

    Judge: Schaaf

    Filed under:
    USA, Kentucky, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
    Authors:
    Matt Lindblom
    Location:
    USA
    Firm:
    Stoll Keenon Ogden PLLC

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