Farley v. Moore's Building Supplies (In Re Farley)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

This is an adversary proceeding wherein plaintiff seeks to avoid a judicial lien held by the defendant. 11 U.S.C. § 522(f)(1). The defendant’s position is that the lien is not avoidable under 11 U.S.C. § 522(f)(1) because the plaintiff has no equity in the property to which the lien attached. The facts relevant to the present proceeding have been stipulated by the parties:

1. On June 5, 1980, Moore’s Building Supplies filed a Knox County Chancery Court lawsuit against John Farley, his wife, and other parties not involved in the present case. The suit…