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Judges Views on Various Issues

Posted: Mon Apr 15, 2013 12:16 am
by Yahoo Bot

Thank you very much, these are great answers.
Judge Kwan did not let us do a lien strip through our Plan, he told us to
go do motions to value but Brand let me do it. So I thought their may be a
split.
Sincerely,
Michael Avanesian
Attorney and Counselor at Law
818-817-1725
On Sun, Apr 14, 2013 at 5:25 PM, jonhayes6666 wrote:
> **
>
>
> Michael,
>
> Thanks for the response. If the answer is "depends on the judge," I think
> we can ask. If the answer is, "depends on the code," we can't ask. So
> you're stuck with my answer on most of these.
>
> -Does the Absolute Priority Rule apply in individual chapter 11 cases? If
> so, is there a new value exception? OF COURSE - at least to the extent
> there is any new value exception.
>
> If so, can the new value be exempt estate property? Must it be cash? Read
> Ahlers, and Case v. Los Angeles Lumber Products Co., 308 U.S. 106 (1939).
> "A plan by which the old shareholders contribute new "money or money's
> worth," in proportion to the interests they are receiving, may be fair and
> equitable."
>
> -Can deficiency claim be separately classified in chap 11 when owner has
> guaranteed the debt? (PROBABLY NOT) What if the guarantor is insolvent or
> insolvent? See answer to previous question.
>
> -Is Debtor's declaration enough to value property absent any proof to the
> contrary? The court must WEIGH the evidence. I think we can ask the judges
> about their individual views on this.
>
> -Can a lien be stripped through a Plan of Reorganization (YES) or must
> there be a motion or must there be an adversary?
>
>
> -In a Chapter 11, a note secured by a first priority deed of trust on
> Debtor's primary residence cannot be modified except to cure arrears. Can
> the arrears be cured over the life of the note? i.e. if there are 27 years
> left on the first, can the note be cured over that time? YES IF IT IS PAID
> IN FULL AND IS "FAIR AND EQUITABLE" TO CREDITORS AND IS IN THE BEST
> INTEREST OF CREDITORS.
>
> -Client files for Chapter 11 for LLC then Chapter 7 for himself. Is
> Chapter 7 trustee now the DIP until he abandons LLC? I.e., does the firm
> that filed Chapter 11 for the LLC now take instruction from the Chapter 7
> trustee? YES (sort of). The chapter 7 trustee is the managing member if
> that is what the debtor was.
>
> -Is it impermissible to not pay post-petition property taxes and / or
> mortgage payments on Debtor's primary residence in order to eat the equity
> and strip the second. YES - not in the best interest of creditors.
>
> --- In cdcbaa@yahoogroups.com, Michael Avanesian wrote:
> >
> > If you're asking these Chapter 11 questions, can you do follow ups? For
> > example:
> >
> > -Does the Absolute Priority Rule apply in individual chapter 11 cases? If
> > so, is there a new value exception? If so, can the new value be exempt
> estate property? Must it be cash?
> >
> > -Can deficiency claim be separately classified in chap 11 when owner has
> > guaranteed the debt? What if the guarantor is insolvent or insolvent?
> >
> > Some additional questions for your consideration:
> > -Is Debtor's declaration enough to value property absent any proof to the
> > contrary?
> > -Can a lien be stripped through a Plan of Reorganization or must there
> be a
> > motion or must there be an adversary?
> > -In a Chapter 11, a note secured by a first priority deed of trust on
> > Debtor's primary residence cannot be modified except to cure arrears. Can
> > the arrears be cured over the life of the note? i.e. if there are 27
> years
> > left on the first, can the note be cured over that time?
> > -Client files for Chapter 11 for LLC then Chapter 7 for himself. Is
> Chapter
> > 7 trustee now the DIP until he abandons LLC? I.e., does the firm that
> filed
> > Chapter 11 for the LLC now take instruction from the Chapter 7 trustee?
> >
> > Not sure if this one is appropriate but:
> > -Is it impermissible to not pay post-petition property taxes and / or
> > mortgage payments on Debtor's primary residence in order to eat the
> equity
> > and strip the second.
> >
> > Sincerely,
> > Michael Avanesian
> > Attorney and Counselor at Law
> > 818-817-1725
> >
> >
> > On Sat, Apr 13, 2013 at 3:32 PM, jonhayes6666 wrote:
> >
> > > **
>
> > >
> > >
> > > I'll update this list as I get suggestions.
> > >
> > > -Is there an Absolute Priority Rule in individual chapter 11 cases?
> > >
> > > -Does unsecured secured debt count as sec or unsec for ch 13
> eligibility
> > >
> > > -Is discharge required to strip a second lien in a chapter 20? (or ch
> 18)
> > >
> > > -Does "no auto stay" in second case apply to both the debtor and the
> > > estate? (Reswick)
> > >
> > > -Can deficiency claim be separately classified in chap 11 when owner
> has
> > > guaranteed the debt?
> > >
> > > -Can student loan be separately classified in chapter 13?
> > >
> > >
> > >
> >
>
>
>
Thank you very much, these are great answers.Judge Kwan did not let us do a lien strip through our Plan, he told us to go do motions to value butBrand let me do it. So I thought their may be a split.
Sincerely, Michael AvanesianAttorney and Counselor at Law818-817-1725
On Sun, Apr 14, 2013 at 5:25 PM, jonhayes6666 <
Michael,
Thanks for the response. If the answer is "depends on the judge," I think we can ask. If the answer is, "depends on the code,"
The post was migrated from Yahoo.

Judges Views on Various Issues

Posted: Sun Apr 14, 2013 5:25 pm
by Yahoo Bot

Michael,
Thanks for the response. If the answer is "depends on the judge," I think we can ask. If the answer is, "depends on the code," we can't ask. So you're stuck with my answer on most of these.
-Does the Absolute Priority Rule apply in individual chapter 11 cases? If so, is there a new value exception? OF COURSE - at least to the extent there is any new value exception.
If so, can the new value be exempt estate property? Must it be cash? Read Ahlers, and Case v. Los Angeles Lumber Products Co., 308 U.S. 106 (1939). "A plan by which the old shareholders contribute new "money or money's worth," in proportion to the interests they are receiving, may be fair and equitable."
-Can deficiency claim be separately classified in chap 11 when owner has guaranteed the debt? (PROBABLY NOT) What if the guarantor is insolvent or insolvent? See answer to previous question.
-Is Debtor's declaration enough to value property absent any proof to the contrary? The court must WEIGH the evidence. I think we can ask the judges about their individual views on this.
-Can a lien be stripped through a Plan of Reorganization (YES) or must there be a motion or must there be an adversary?
-In a Chapter 11, a note secured by a first priority deed of trust on
Debtor's primary residence cannot be modified except to cure arrears. Can the arrears be cured over the life of the note? i.e. if there are 27 years left on the first, can the note be cured over that time? YES IF IT IS PAID IN FULL AND IS "FAIR AND EQUITABLE" TO CREDITORS AND IS IN THE BEST INTEREST OF CREDITORS.
-Client files for Chapter 11 for LLC then Chapter 7 for himself. Is Chapter 7 trustee now the DIP until he abandons LLC? I.e., does the firm that filed Chapter 11 for the LLC now take instruction from the Chapter 7 trustee? YES (sort of). The chapter 7 trustee is the managing member if that is what the debtor was.
-Is it impermissible to not pay post-petition property taxes and / or
mortgage payments on Debtor's primary residence in order to eat the equity and strip the second. YES - not in the best interest of creditors.
>
> If you're asking these Chapter 11 questions, can you do follow ups? For
> example:
>
> -Does the Absolute Priority Rule apply in individual chapter 11 cases? If
> so, is there a new value exception? If so, can the new value be exempt estate property? Must it be cash?
>
> -Can deficiency claim be separately classified in chap 11 when owner has
> guaranteed the debt? What if the guarantor is insolvent or insolvent?
>
> Some additional questions for your consideration:
> -Is Debtor's declaration enough to value property absent any proof to the
> contrary?
> -Can a lien be stripped through a Plan of Reorganization or must there be a
> motion or must there be an adversary?
> -In a Chapter 11, a note secured by a first priority deed of trust on
> Debtor's primary residence cannot be modified except to cure arrears. Can
> the arrears be cured over the life of the note? i.e. if there are 27 years
> left on the first, can the note be cured over that time?
> -Client files for Chapter 11 for LLC then Chapter 7 for himself. Is Chapter
> 7 trustee now the DIP until he abandons LLC? I.e., does the firm that filed
> Chapter 11 for the LLC now take instruction from the Chapter 7 trustee?
>
> Not sure if this one is appropriate but:
> -Is it impermissible to not pay post-petition property taxes and / or
> mortgage payments on Debtor's primary residence in order to eat the equity
> and strip the second.
>
> Sincerely,
> Michael Avanesian
> Attorney and Counselor at Law
> 818-817-1725
>
>
> On Sat, Apr 13, 2013 at 3:32 PM, jonhayes6666 wrote:
>
> > **
> >
> >
> > I'll update this list as I get suggestions.
> >
> > -Is there an Absolute Priority Rule in individual chapter 11 cases?
> >
> > -Does unsecured secured debt count as sec or unsec for ch 13 eligibility
> >
> > -Is discharge required to strip a second lien in a chapter 20? (or ch 18)
> >
> > -Does "no auto stay" in second case apply to both the debtor and the
> > estate? (Reswick)
> >
> > -Can deficiency claim be separately classified in chap 11 when owner has
> > guaranteed the debt?
> >
> > -Can student loan be separately classified in chapter 13?
> >
> >
> >
>

The post was migrated from Yahoo.

Judges Views on Various Issues

Posted: Sat Apr 13, 2013 9:37 pm
by Yahoo Bot

If you're asking these Chapter 11 questions, can you do follow ups? For
example:
-Does the Absolute Priority Rule apply in individual chapter 11 cases? If
so, is there a new value exception? If so, can the new value be exempt
estate property? Must it be cash?
-Can deficiency claim be separately classified in chap 11 when owner has
guaranteed the debt? What if the guarantor is insolvent or insolvent?
Some additional questions for your consideration:
-Is Debtor's declaration enough to value property absent any proof to the
contrary?
-Can a lien be stripped through a Plan of Reorganization or must there be a
motion or must there be an adversary?
-In a Chapter 11, a note secured by a first priority deed of trust on
Debtor's primary residence cannot be modified except to cure arrears. Can
the arrears be cured over the life of the note? i.e. if there are 27 years
left on the first, can the note be cured over that time?
-Client files for Chapter 11 for LLC then Chapter 7 for himself. Is Chapter
7 trustee now the DIP until he abandons LLC? I.e., does the firm that filed
Chapter 11 for the LLC now take instruction from the Chapter 7 trustee?
Not sure if this one is appropriate but:
-Is it impermissible to not pay post-petition property taxes and / or
mortgage payments on Debtor's primary residence in order to eat the equity
and strip the second.
Sincerely,
Michael Avanesian
Attorney and Counselor at Law
818-817-1725
On Sat, Apr 13, 2013 at 3:32 PM, jonhayes6666 wrote:
> **
>
>
> I'll update this list as I get suggestions.
>
> -Is there an Absolute Priority Rule in individual chapter 11 cases?
>
> -Does unsecured secured debt count as sec or unsec for ch 13 eligibility
>
> -Is discharge required to strip a second lien in a chapter 20? (or ch 18)
>
> -Does "no auto stay" in second case apply to both the debtor and the
> estate? (Reswick)
>
> -Can deficiency claim be separately classified in chap 11 when owner has
> guaranteed the debt?
>
> -Can student loan be separately classified in chapter 13?
>
>
>
If you're asking these Chapter 11 questions, can you do follow ups? For example:-Does theAbsolute Priority Ruleapply inindividual chapter 11 cases? If so, is there a new value exception? If so, can the new value be exempt estate property? Must it be cash?
-Can deficiency claim be separately classified in chap 11 when owner has guaranteed the debt? What if the guarantor is insolvent or insolvent?Some additional questions for your consideration:
-Is Debtor's declaration enough to value property absent any proof to the contrary?-Can a lien be stripped through a Plan of Reorganization or must there be a motion or must there be an adversary?
-In a Chapter 11,anote secured by a first priority deed of trust on Debtor's primary residence cannot be modified except to cure arrears. Can the arrearsbe cured overthe life of the note? i.e. if there are27 years left on the first, can thenote be cured over that time?
-Client files for Chapter 11 for LLC then Chapter 7 for himself. Is Chapter 7 trustee now the DIP until he abandons LLC? I.e., does the firm that filed Chapter 11 for the LLC now take instruction from the Chapter 7 trustee?
Not sure if this one is appropriate but:-Isge payments on Debtor's primary residence in order to eat the equity and strip the second.
hael AvanesianAttorney and Counselor at Law818-817-1725
On Sat, Apr 13, 2013 at 3:32 PM, jonhayes6666 <
The post was migrated from Yahoo.

Judges Views on Various Issues

Posted: Sat Apr 13, 2013 3:32 pm
by Yahoo Bot

I'll update this list as I get suggestions.
-Is there an Absolute Priority Rule in individual chapter 11 cases?
-Does unsecured secured debt count as sec or unsec for ch 13 eligibility
-Is discharge required to strip a second lien in a chapter 20? (or ch 18)
-Does "no auto stay" in second case apply to both the debtor and the estate? (Reswick)
-Can deficiency claim be separately classified in chap 11 when owner has guaranteed the debt?
-Can student loan be separately classified in chapter 13?

The post was migrated from Yahoo.