Bar News - September 16, 2011
US Bankrupcty Court Opinion Summary
Note: The full text of the opinion below will be available on the Bankruptcy Court’s website.
In re Momenta, Inc., 2011 BNH 010, issued August 19, 2011 (Deasy, J.) (Published) - (holding that the movant failed to provide evidence that goods delivered directly to the debtor’s customers were "received by the debtor" as required by 11 U.S.C. § 503(b)(9) and that 11 U.S.C. § 502(d) does not apply to administrative claims requested and allowed pursuant to 11 U.S.C. § 503)).
In re Culcasi, 2011 BNH 011 (denying confirmation of above median income debtors’ plan for failure to apply all of their disposable income to plan payments, as required under 11 U.S.C. § 1325(b)(1)(B), after concluding the debtors could not reduce their presumed projected disposable income under the means test because payments on an unapproved postpetition 401(k) loan used to pay in full a prepetition student loan could not be deducted from projected disposable income; one joint debtor could not use continuing losses from the operation of a business over the entire term of a sixty month plan to reduce projected disposable income and payments to creditors)