Bar News - September 23, 2005
NH Bankruptcy Court Opinion Summaries
Note: The full text of the opinion below is available on the Bankruptcy Court’s web site at: www.nhb.uscourts.gov
Robert Wolfe Assocs. v. ASR Acquisition Corp. (In re Desmond), 2005 BNH 026, issued Aug. 12, 2005 (Vaughn, C.J.), published Court grants creditor Defendant’s motion to dismiss Count II finding that one cannot have an ownership interest in an individual and denies the Defendant’s request to dismiss Counts I, III and IV because the Plaintiff’s complaint contains facts sufficient to justify its recovery based on the Defendant’s fraud and/or misrepresentation, and the Defendant may not untimely raise the issue of the Plaintiff’s lack of standing to pursue its claim for restitution.
In re May, 2005 BNH 028, issued Aug. 18, 2005 (Vaughn, C.J.), published Court grants the Debtors’ motion to avoid a judicial lien and the Debtors’ amendment to their petition and schedules finding that (1) the Debtors have a standing to bring the motion because they had an interest in the property at the time the lien affixed, as well as at the time the motion was brought; and (2) the Debtors’ entering into a purchase and sale agreement while still occupying the premises and then subsequently moving from the premises prior to the closing does not constitute an abandonment of the homestead.
In re Desmond, 2005 BNH 029, issued Aug. 26, 2005 (Vaughn, C.J.), published Court grants the United States Trustee’s motion to convert the Chapter 11 case to Chapter 7 finding that (1) the estate is administratively insolvent, the Debtor, having no earned income, and the insurance policy on the Debtor’s main asset having been threatened to be canceled due to the Debtor’s nonpayment of premiums; (2) the Debtor has paid no quarterly fees to the United States Trustee since the start of the case, which is not justifiable; and (3) the Debtor has not been able to effectuate a reorganization plan, and his continued delay in Chapter 11 is and will be prejudicial to creditors.
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