Recently, news stories, political pundits, social media outlets and the talking heads have become keenly aware of the growing danger imposed by burgeoning student loan debt and the economic chaos it has caused and will continue to cause. Although the crisis appears to dominate our cell phones and news feeds, bankruptcy professionals involved in consumer bankruptcy matters are fully aware...
From the Editor – Avoidance Actions
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By The Honorable William Houston Brown (Retired)
Chapter 13 debtors had authority to bring avoidance action. Applying §§ 522(g) and (h), the debtors could pursue avoidance of a prebankruptcy tax sale under § 548, with the court concluding that “reasonably equivalent value” could not be ascertained from a tax foreclosure sale under applicable New Jersey law, distinguishing BFP v. Resolution Trust Corp., 511 U.S. 531 (1994). Here, the tax debt was $36,000 and the property value was at least $100,000 more than the debt. Matter of Varquez, 502 B.R . . .
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