Legal Opinion
In Re Thomas
United States Bankruptcy Court, E.D. Pennsylvania
Decided March 25, 1999No. 17-14852PublishedCited by 8 opinions
1Opinion of the Court
OPINION
STEPHEN RASLAVICH, Bankruptcy Judge.
INTRODUCTION
At issue in the present case is the value of a secured claim held by the Internal Revenue Service (“IRS”) in the Debtors’ stock in a closely held corporation. By using the income method of valuation, the IRS calculated the stock to be worth $56,000 and based on that figure asserts a secured claim in the amount of $55,521.90 in the Debtors’ Chapter 13 bankruptcy proceeding. By contrast, the Debtors assert that the stock is worth about $10,000, which is the liquidation value of the corporation. The Debtors argue that it is inappropriate to…
2Cases cited36 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Local Loan Co. v. HuntSupreme Court of the United States · 1934
- United States v. National Bank of CommerceSupreme Court of the United States · 1985
- Kokoszka v. BelfordSupreme Court of the United States · 1974
- Associates Commercial Corp. v. RashSupreme Court of the United States · 1997
31 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- In Re HanleyUnited States Bankruptcy Court, M.D. Florida · 2003
- Ackerman v. Schultz (In Re Schultz)United States Bankruptcy Court, E.D. New York · 2000
- In re ColeUnited States Bankruptcy Court, E.D. Virginia · 2016
- In Re MoyerUnited States Bankruptcy Court, S.D. Georgia · 2007
- In Re ThomasDistrict Court, E.D. Pennsylvania · 2000
3 more not listed; retrieve them via the Exa API.