*****SPAM***** Trustee Using Costs of Sale in Preference Complaint Analysis
Posted: Tue Mar 17, 2009 8:50 am
Thoughts about your question:
1. Presumably the Trustee intends to abandon the property as
over-encumbered, hence no sale. No sale means no selling costs.
2. 2nd TD holder does not need to bear costs of sale to enforce its claim,
only foreclosure costs which would probably be far less.
3. Under 1111(b), creditor is entitled to treat its claim, even if
undersecured, as fully secured.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
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