Legal Opinion
In re Dailey
United States Bankruptcy Court, C.D. Illinois
Decided March 13, 2003No. 02-70737Published
1Opinion of the Court
OPINION
LARRY L. LESSEN, Bankruptcy Judge.
The issue before the Court is whether the Debtors’ proposed Chapter 11 Plan impermissibly modifies an undersecured home mortgage in violation of Section 1123(b)(5) of the Bankruptcy Code.
The material facts are not in dispute. John C. Dailey is a sixty-two year-old doctor practicing in Jacksonville, Illinois. His specialty is ear, nose, and throat. He earns over $400,000 a year. His wife, Patricia A. Dailey, has not been employed outside the home since 1985. They have four adult, emancipated children.
The Daileys filed a petition pursuant to Chapter 11…
2Cases cited5 opinions
- Nobelman v. American Savings BankSupreme Court of the United States · 1993
- In Re GosmanUnited States Bankruptcy Court, S.D. Florida. · 2002
- In Re WatersUnited States Bankruptcy Court, N.D. Illinois · 2002
- Bank v. Cohen (In Re Cohen)United States Bankruptcy Court, D. New Hampshire · 2001
- Lievsay v. Western Financial Savings Bank (In Re Lievsay)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1996