First National Bank of Amarillo v. Holmes (In Re Holmes)

MEMORANDUM OF OPINION ON DISCHARGE

JOHN C. AKARD, Bankruptcy Judge.

The First National Bank of Amarillo (Bank) seeks to have the discharge of Tran-nie Lee Holmes and Jana K. Holmes (Debtors) denied under § 727(a)(5) of the Bankruptcy Code 1 . The court finds that the Debtors satisfactorily explained the loss of their assets and, therefore, the Bank’s complaint should be denied.

Facts

On June 11, 1984 the Debtor, Trannie Holmes, borrowed $30,100.00 from the Bank to use in connection with his hairstyling salon known as Trannie’s. As security for the note Mr. Holmes executed a security agreement on…