Bar News - April 15, 2011
US Bankruptcy Court Opinion Summaries
Note: The full text of the opinion below will be available on the Bankruptcy Court’s website.
In re Doolan, 2011 BNH 002, issued March 14, 2011 (Deasy, J.) (published) (holding that the Town of Derry and the Town of Pembroke violated the automatic stay under § 362(a)(4), (a)(5), and (a)(6 ) by sending the debtors a notice of arrearage and a notice of impending tax lien that included a demand for payment and threatened to execute a tax deed on the property if the arrearage was not redeemed, and that the Town of Pembroke was in contempt of the confirmation order because it applied post-petition payments by the debtor to the prepetition arrearage and accrued interest on the prepetition arrearage at a rate different than provided in the confirmed plan).
Sousa v. Wells Fargo, NA (In re Sousa), 2011 BNH 003 (unpublished) (holding that (1) Lender did not comply with the provisions of the Truth in Lending Act ("TILA"), under 15 U.S.C. § 1635(a) and Regulation Z, 12 C.F.R. §§ 226.15(b) and 226.23(b), when it failed to provide the debtor two copies of her notice of right to rescind; (2) the debtor validly rescinded the loan and must tender to Wells Fargo the monies lent to her minus any payments made and finance charges accrued; and (3) the lender’s proof of claim is disallowed since the prepetition contractual obligations under the note and mortgage have been rescinded and replaced by the debtor’s obligation under TILA to tender money to the lender).