Legal Opinion

In re Karlingersmith

United States Bankruptcy Court, W.D. Texas

Decided January 21, 2016No. CASE NO. 15-10214-tmdPublishedCited by 2 opinions

1Opinion of the Court

MEMORANDUM OPINION

TONY M. DAVIS, UNITED STATES BANKRUPTCY JUDGE

Can wage-earners who have sought refuge from creditors, and a fresh start, by filing a chapter 7 liquidation be forced into a chapter 11 reorganization, and be compelled to repay creditors in a five-year plan? In general, yes. But not here, where the Debtors have made extensive and diligent efforts — over a period of seven years — to repay creditors prior to bankruptcy, only to run into one implacable creditor, and where the Debtors have timely paid their taxes and secured creditors.

I. BACKGROUND AND FACTS

By most measures, Tracy…

2Cases cited12 opinions

In the Matter of Texas Extrusion Corp., Debtor. Texas Extrusion Corp. v. Lockheed Corp., and Lockheed Finance Corp., in the Matter of Richard W. Pickens, Debtor. Richard W. Pickens, D/B/A Gold Sun Aluminum, Inc., Plaintiffs v. Lockheed Corp., Daniel C. Stewart, Trustee of Texas Extrusion Corp. & Disbursing Agent, the Official Creditors Committee of Texas Extrusion Corp., Lockheed Finance Corp., and Lockheed California Co., Defendants- in the Matter of Pickens Industries, Inc., Debtor. Pickens Industries, Inc. v. Lockheed Corporation, in the Matter of Louise Pickens, Debtor. Louise Pickens D/B/A Gold Sun Aluminum, Inc. v. Lockheed CorporationCourt of Appeals for the Fifth Circuit · 1988
Proudfoot Consulting Co. v. Gordon (In Re Gordon)United States Bankruptcy Court, N.D. Georgia · 2012
Schlehuber v. Fremont National Bank & Trust Co. (In re Schlehuber)United States Bankruptcy Appellate Panel for the Eighth Circuit · 2013
In Re FreunschtUnited States Bankruptcy Court, D. Vermont · 1985
In Re GrahamUnited States Bankruptcy Court, N.D. Iowa · 1982

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3Cited by2 opinions

In re CookUnited States Bankruptcy Court, W.D. Arkansas · 2019
In re: Marlow Curtis LafountaineUnited States Bankruptcy Appellate Panel for the Ninth Circuit · 2016