By William Houston Brown, Editor/Adviser, Academy for Consumer Bankruptcy Education On December 18, 2019, the Supreme Court granted the City of Chicago’s petition for certiorari, 2019 WL 6880702, from the decision of the Seventh Circuit at 926 F.3d 916 (7th Cir. June 19, 2019). The Seventh Circuit’s decision was analyzed in a prior article on this website. In its decision,...
Vesting Property in Disinclined Creditors
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By Ansley Owens, Contributing Writer and Intern for the NACTT Academy (Nashville, TN)
A Chapter 13 plan may permit a debtor to transfer title of the property securing a claim to its secured creditor despite the creditor’s objection. In re Sagendorph, No. 14-41675, 2015 WL 3867955 (Bankr. D. Mass. June 22, 2015).
In July 2014, debtor Paul R. Sagendorph, II filed for Chapter 13 relief, listing three income-producing properties among his assets (Schedule A). His initial plan provided that the secured creditors’ claims to real estate would be paid in full through the . . .
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