By Jan Hamilton, Chapter 13 Trustee (Topeka, KS) Click here for Part 1 of 3 8. Early Preparation for Trial As suggested, the best way to settle a case is to be willing to try that case, which means you must prepare from the get go. That preparation begins a long time before the eve of trial, namely, at the...
Critical Case Comment – Reiber v. GMAC, LLC (In re Peaslee), 2009 N.Y. Slip Op. 05197, 2009 WL 1766000 (N.Y. Jun. 24, 2009)
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Reiber v. GMAC, LLC (In re Peaslee), 2009 N.Y. Slip Op. 05197, 2009 WL 1766000 (N.Y. Jun. 24, 2009)
“Negative equity” is both part of the “purchase price” of the acquisition of a new automobile as well as “value given” under the Uniform Commercial Code such that it constitutes part of the purchase money security interest and is protected from “cram down” under the “hanging paragraph.”
Summary of the Case
Ms. Peaslee purchased a 2004 . . .
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