Legal Opinion

In Re Smith

United States Bankruptcy Court, N.D. Illinois

Decided April 1, 2004No. 19-80125PublishedCited by 8 opinions

1Opinion of the Court

MEMORANDUM OPINION ON DEBTOR’S MOTION TO REDEEM

JACK B. SCHMETTERER, Bankruptcy Judge.

The Debtor, Ms. Joann Smith (“Smith”), in this Chapter 7 proceeding proposes to redeem her automobile pursuant to 11 U.S.C. § 722 based on its wholesale value. The main issue presented is whether a wholesale value standard or a retail value standard should be used to determine the amount of a secured claim for redemption purposes. For reasons discussed below, the automobile must be valued under 11 U.S.C. § 506(a) according to its retail value discounted to eliminate inapplicable elements of that value, not…

2Cases cited19 opinions

Associates Commercial Corp. v. RashSupreme Court of the United States · 1997
In Re Brian K. Boodrow, Debtor. Capital Communications Federal Credit Union v. Brian K. BoodrowCourt of Appeals for the Second Circuit · 1997
In Re David P. Parker, Sr., Debtor. McClellan Federal Credit Union v. David P. Parker, Sr.Court of Appeals for the Ninth Circuit · 1998
In Re Ebbler Furniture and Appliances, Inc., Debtor. Donald Samson, Trustee v. Alton Banking & Trust Co.Court of Appeals for the Seventh Circuit · 1986
In the Matter of Elray and Jean Rash, Debtor. Associates Commercial Corporation v. Elray Rash and Jean E. RashCourt of Appeals for the Fifth Circuit · 1996

14 more not listed; retrieve them via the Exa API.

3Cited by8 opinions

In Re BouzekUnited States Bankruptcy Court, E.D. Wisconsin · 2004
In Re StarkUnited States Bankruptcy Court, N.D. Illinois · 2004
In Re McElroyUnited States Bankruptcy Court, C.D. Illinois · 2006
In Re SmithUnited States Bankruptcy Court, N.D. Indiana · 2004
In Re NealUnited States Bankruptcy Court, N.D. Iowa · 2004

3 more not listed; retrieve them via the Exa API.