By North Carolina Lawyers Weekly Staff
Published: May 15,2013
Branigan v. TD Bank NA In a “Chapter 20” bankruptcy case – a Chapter 13 bankruptcy filed within four years of a Chapter 7 discharge – there is no per se rule barring lien-stripping, and the 4th Circuit affirms an order stripping off liens secured by collateral with no value to support them in this suit involving debtors’ residences
By North Carolina Lawyers Weekly Staff
Published: April 30,2013
In re Johnson While both of the debtor’s daughters are college students with scholarships, the debtor can claim only the younger daughter as a member of his household
By North Carolina Lawyers Weekly Staff
Published: April 30,2013
Angell v. Accugenomics, Inc. (In re Gene Express, Inc.) : On Oct. 1, 2010, the University of Toledo gave notice of termination of the debtor’s license rights to UT’s patents, effective Oct. 31, 2010.
By North Carolina Lawyers Weekly Staff
Published: April 29,2013
In re Peterkin & Associates, Inc After this court approved the sale of the debtor’s property, a new bidder offered a substantially higher price.
By North Carolina Lawyers Weekly Staff
Published: April 29,2013
Angell v. Meherrin Agricultural & Chemical Co. (In re Tanglewood Farms, Inc. of Elizabeth City Although the complaint plausibly alleges that the proceeds from the lines of credit provided by the defendant-creditors went almost exclusively for the personal benefit of the debtor’s owner rather than the debtor, the debtor and its owner typically paid off the obligations to defendants as they came due until 2009.
By North Carolina Lawyers Weekly Staff
Published: April 29,2013
Angell v. Montague Farms, Inc. (In re Tanglewood Farms, Inc. of Elizabeth City) When defendant paid the debtor for soybeans, it withheld from the payment the cost of the seeds the debtor had bought from defendant. This indirect and involuntary disposition of the debtor’s property was a “transfer” within the meaning of 11 U.S.C. § 101(54)(D) and § 548.
By North Carolina Lawyers Weekly Staff
Published: April 29,2013
Angell v. C.A. Perry & Son, Inc. (In re Tanglewood Farms, Inc. of Elizabeth City) The debtor commingled its own grain with that of the defendant, sold much of the grain -- without informing defendant -- and kept all the proceeds. Upon learning of the debtor’s theft, defendant removed a million bushels of grain – about half of what it had stored with the debtor – from the debtor’s facility several months before the debtor filed bankruptcy.
By North Carolina Lawyers Weekly Staff
Published: April 26,2013
In re Meade After the district court affirmed this court’s ruling that Bank of America’s deeds of trust on Lot 978 of Lake Sagamore Subdivision were invalid, the bank appealed to the Fourth Circuit; however, the bank failed to seek a stay pending appeal.
By North Carolina Lawyers Weekly Staff
Published: April 26,2013
In re Meade After the district court affirmed this court’s ruling that Bank of America’s deeds of trust on Lot 978 of Lake Sagamore Subdivision were invalid, the bank appealed to the Fourth Circuit; however, the bank failed to seek a stay pending appeal. Since the bank has no liens on the real property, it is a general unsecured creditor, and since the debtor is in compliance with his plan as to general unsecured creditors, the bank has no standing to challenge the debtor’s sale of the property to his sister.
By North Carolina Lawyers Weekly Staff
Published: April 26,2013
Sparkman v. American Residential Services, LLC (In re Anderson Homes, Inc. Before the 90-day preference period, on average, the debtor paid the creditor 48.83 days after a purchase order; during the preference period, the average was 95.23 days (or 96.26 days if disputed entries are excluded). This increase of 95.02 percent (or 97.13 percent if disputed entries are excluded) represents a substantial change in the parties’ dealings during the preference period from the pre-preference period.
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Bartlett v. Wayne County Board of Education Plaintiffs contend that the majority of eyewitnesses in this case testified that the responding officer’s diagram depicting the accident scene was accurate, that the diagram demonstrates plaintiffs’ “van had to have been almost directly in front of the bus at the time [the bus driver] started her turn,” and that this evidence conclusively established that the bus driver failed to yield the right-of-way to plaintiffs’ van.
Fidelity Bank v. North Carolina Department of Revenue Even though the N.C. Revenue Act uses the Internal Revenue Code to determine state net income, and even though the Code treats “market discount income” on U.S. Treasury bonds as interest for purposes of the Code, under the N.C. Revenue Act market discount income on U.S. Treasury bonds is treated as income rather than interest.
Apex Tool Group, LLC v. Ingersoll-Rand Co. Neither plaintiff nor the individual defendants are Texas residents; nevertheless, each of the individual defendants’ employment agreements includes an unambiguous and mandatory forum selection clause, which says any lawsuit involving the agreement must be brought in Harris County, Texas. The employment agreements were entered into by plaintiff’s predecessor and the individual defendants, who apparently did not live in Texas when they entered into the contracts and thus apparently anticipated interstate travel in the event of a trial.
