Legal Opinion
First of America Bank v. Gaylor (In Re Gaylor)
United States Bankruptcy Court, E.D. Michigan
Decided January 25, 1991No. 19-42171PublishedCited by 65 opinions
1Opinion of the Court
MEMORANDUM OPINION ON PLAINTIFF’S MOTION TO DISMISS COUNTERCLAIM
ARTHUR J. SPECTOR, Bankruptcy Judge.
The issue here is whether a chapter 7 debtor can force a creditor holding a mortgage on real property of the estate to accept less than the full balance owing when the debtor eventually sells the property after the case is closed. To our knowledge, this is the first Chapter 7 “strip down” ever attempted in this district.
Gregory and Diana Gaylor (“Debtors”) filed their joint voluntary petition for relief on March 23, 1990. First of America Bank (“Bank”) brought an action under 11 U.S.C. § 523(c)…
2Cases cited62 opinions
- Conley v. GibsonSupreme Court of the United States · 1957
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- United Sav. Assn. of Tex. v. Timbers of Inwood Forest Associates, Ltd.Supreme Court of the United States · 1988
- John W. Dussouy, Jr. v. Gulf Coast Investment CorporationCourt of Appeals for the Fifth Circuit · 1981
- Mueller v. AllenSupreme Court of the United States · 1983
57 more not listed; retrieve them via the Exa API.
3Cited by65 opinions
- In re UlrichUnited States Bankruptcy Court, E.D. Michigan · 2014
- In Re GonzalezUnited States Bankruptcy Court, D. Massachusetts · 1993
- In Re Shattuc Cable Corp.United States Bankruptcy Court, N.D. Illinois · 1992
- Soost v. NAH, Inc. (In Re Soost)United States Bankruptcy Appellate Panel for the Eighth Circuit · 2001
- 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
60 more not listed; retrieve them via the Exa API.