.jpg)
Objections to pay-collateral-value-in-5y c13 plan
Listmates,
Several experienced practitioners have shared on this and other
listservs that trustees may object to a c13 plan that pays in 5 years
only the value of the collateral to the 1st mortgage lender.
It has been suggested that to overcome the objection the property must
be cash flow positive or that the money must come from someone other
than the debtor.
I have not found references to these objections in Colliers. Could
some one post the cases or code sections justifying such objections?
Are the trustees reading provisions into the code? Could some one who
has received such an objection post the case number or the docs?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
Cal. CD, Los Angeles
The post was migrated from Yahoo.