In Re Horton

ORDER DETERMINING THAT LAST CLAUSE OF “HANGING PARAGRAPH” DOES NOT APPLY TO MOTOR VEHICLES

ROBERT A. MARK, Bankruptcy Judge.

Debtor’s motion to value collateral raises yet another “hanging paragraph” issue which has generated conflicting opinions from bankruptcy courts: If a motor vehicle was acquired by the debtor for business use within one year of bankruptcy, is that vehicle an “other thing of value” as that term is used in the last clause of the hanging paragraph thereby precluding stripdown of the secured claim under § 506? This Court joins the majority of courts which have said no. If a…