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*****SPAM*** ** Trustee Using Costs of Sale in Preference=
We know that, but by employing the costs of sales analysis, he has rendered the second substantially undersecured. This is absurd. There is no place for costs of sale in the analysis, because analyzing a transfer under 547 has nothing to do with a sale. Since it is public record anyway, here is the cite to the trustee's Complaint: Gonzalez v. Chase Home Finance, adversary no. 09-01286-EC. My client, the debtor has a big stake in this, because, as you are aware, under the note and deed of trust, he will be surcharged by Chase for all costs, legal fees, etc., that it incurs defending this nonsense.
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, 12th Floor
Woodland Hills, California 91364-2203
Telephone: (818) 226-1205
Facsimile: (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sunday, March 15, 2009 12:01:39 PM
Subject: Re: *****SPAM***** [cdcbaa] Trustee Using Costs of Sale in Preference Complaint Analysis
Doesn't make sense as 2nd TD holder is not in same class as other unsecured creditors. Therefore the payments have not diminished the estate.
Sent via BlackBerry by AT&T
________________________________
Date: Sun, 15 Mar 2009 16:27:29 -0000
To:
Subject: *****SPAM*** ** [cdcbaa] Trustee Using Costs of Sale in Preference Complaint Analysis
Just received a Complaint in a Chapter 7 case wherein the trustee is suing the 2nd deed of trust holder, claiming that pre-petition payments to it were preferential. The only way he is able to make his numbers work for the preference allegations is to take out 8% [in this instance $58,000] as costs of sale. Unless I have been asleep, I do not recall anything anywhere that allows for this. Please correct me if I am wrong.
We know that, but by employing the costs of sales analysis, he has rendered the second substantially undersecured. This is absurd. There is no place for costs of sale in the analysis, because analyzing a transfer under 547 has nothing to do with a sale. Since it is public record anyway, here is the cite to the trustee's Complaint: Gonzalez v. Chase Home Finance, adversary no. 09-01286-EC. My client, the debtor has a big stake in this, because, as you are aware, under the note and deed of trust, he will be surcharged by Chase for all costs, legal fees, etc., that it incurs defending this nonsense.Kenneth Jay Schwartz, Esq.LAW OFFICE OF KENNETH JAY SCHWARTZ21031 Ventura Boulevard, 12th FloorWoodland Hills, California 91364-2203Telephone: (818)
226-1205Facsimile: (818) 226-1213THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.From: "larry@lsimonslaw.com" <larry@lsimonslaw.com>To: cdcbaa@yahoogroups.comSent: Sunday, March 15, 2009 12:01:39 PMSubject: Re: *****SPAM***** [cdcbaa] Trustee Using Costs of Sale in Preference Complaint Analysis
Doesn't make sense as 2nd TD holder is not in same class as other unsecured creditors. Therefore the payments have not diminished the estate.Sent via BlackBerry by AT&TFrom: "Kenneth Schwartz" Date: Sun, 15 Mar 2009 16:27:29 -0000To: <cdcbaa@yahoogroups. com>Subject: *****SPAM*** ** [cdcbaa] Trustee Using Costs of Sale in Preference Complaint Analysis Just received a Complaint in a Chapter 7 case wherein the trustee is suing the 2nd deed of trust holder, claiming that pre-petition payments to it were preferential. The only way he is able to make his numbers work for the preference allegations is to take out 8% [in this instance $58,000] as costs of sale. Unless I have been asleep, I do not recall anything anywhere that allows for this. Please correct me if I
am wrong.
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