By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Administrative fees and claims existing when Chapter 13 plan was confirmed would reduce the amounts received by unsecured creditors in a Chapter 7 under the “best interests of creditors test;” unsecured creditors, expected to receive payments over three years, must be paid the “present value” of that stream of...
Eleventh Circuit Adopts the Path of Leased Resistance in Chapter 13
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By Chris Hawkins, Bradley Arant Boult Cummings LLP (Birmingham, AL)
The United States Court of Appeals for the Eleventh Circuit recently issued an opinion that may have far-reaching procedural implications for debtors and trustees in Chapter 13 cases. In Microf LLC v. Cumbess, the court articulated multiple canons of statutory interpretation in holding that a chapter 13 debtor’s proposal to assume an unexpired lease of personal property in a chapter 13 plan – without a corresponding assumption by the chapter 13 trustee . . .
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