Legal Opinion
Valley National Bank of Arizona v. Avila (In Re Avila)
United States Bankruptcy Appellate Panel for the Ninth Circuit
Decided October 2, 1987No. BAP No. AZ-86-2176-MeAsJ, Bankruptcy No. AZ-86-2176PublishedCited by 5 opinions
1Opinion of the Court
OPINION
2Per curiam
I
BACKGROUND
The Debtors filed a joint petition in bankruptcy under Chapter 7 of the Bankruptcy Code (“Code”) on March 21, 1986. One of their obligations was to Valley National Bank (“Bank”) for $9,899. The Bank held a security interest in the Debtors’ 1984 Mercury Marquis automobile to cover this debt, but the fair market value of the car was only $8,000. The Debtors were at all times current on their monthly car payments of $347.49.
On May 16,1986, the Bank filed a motion for relief from the automatic stay, claiming that it was entitled to recover and sell the car under the terms of the…
3Cases cited3 opinions
- Riggs National Bank of Washington, D.C. v. John Gillis Perry, Jr., in Re John Gillis Perry, Jr., DebtorCourt of Appeals for the Fourth Circuit · 1984
- Arizona Bank v. Carroll (In Re Carroll)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1981
- Ford Motor Credit Co. v. Polk (In Re Polk)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1987
4Cited by5 opinions
- In Re CrouchUnited States Bankruptcy Court, S.D. West Virginia · 1989
- In Re HarperUnited States Bankruptcy Court, W.D. Texas · 1992
- In Re MitchellUnited States Bankruptcy Court, D. Nevada · 1988
- McClellan Federal Credit Union v. Parker (In Re Parker)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1996
- Eaton v. First American Bank of VirginiaDistrict Court, E.D. Virginia · 1991