drafting a ch 11 plan when challenging standing of mo=
Posted: Sat Jan 07, 2012 9:37 am
Kirk:
Two choices:
1 motion to extend time to file a plan until adversary is completed. (preferred solution) I have a case in the valley with an appeal and the judge has put the plan off for a year and a half. (Judge Mund)
2write a planwith all of the possibilities listed as alternative treatments of each claim.
n hold for some period of time to let you solve the problem).
2 is a waste of time, but if you think court will dismiss the case, you may have no other way to protect your client.
If this case is over your head, think about getting someone to help.
d
________________________________
To: cdcbaa@yahoogroups.com
Sent: Friday, January 6, 2012 4:42 PM
Subject: Re: [cdcbaa] drafting a ch 11 plan when challenging standing of mortgage lender
You wouldn't put the (objected to) 1st DOT in its own class?
Also, how do you handle the second DOT? Assume the 2nd DOT would be totally unsecured if the 1st DOT lender is ruled to have standing. On the one hand, if the objection to the 1st DOT is successful, that presumably puts the 2nd DOT into potentially having equity to go after. On the other hand, if the 1st DOT objection is successful, there is still a cloud on the title.
Very confusing.
On Thu, Jan 5, 2012 at 8:47 PM, Dennis wrote:
>Once you object, claim is not automatically allowed, so list as unsecured.>
>Sent from my iPhone
>
>On Jan 5, 2012, at 6:44 PM, Kirk Brennan wrote:
>
>
>
>>Working on drafting the ch 11 plan and disco statement in a case where I have filed an objection to the proof of claim of the mortgage company and filed an adversary proceeding against them for quiet title and declaratory relief.
>>I'm not sure how to classify the mortgage lender in the plan in light of our challenge to their standing. Impaired secured claim? That risks an admission that they are creditors.
>>Any suggestions? I'm coming up on a deadline to file the plan, so I can't wait for the adversary to run its course.
>>
>>--
>>Kirk Brennan, esq.
>>California Law Office, P.C.
>>calibankrutpcysite.com
>>
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Kirk Brennan, esq.
California Law Office, P.C.
calibankrutpcysite.com
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TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not constitute a "reliance opinion" as defined in IRS Circular 230 and may not be used to establish reasonable reliance on the opinion of counsel for the purpose of avoiding the penalty imposed by Section 6662A of the Internal Revenue Code. The firm provides reliance opinions only in formal opinion letters containing the signature of a director.
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