In re Engle

MEMORANDUM OPINION AND ORDER ON TRUSTEE’S OBJECTION TO CONFIRMATION OF CHAPTER 13 PLAN

JOHN E. HOFFMAN, JR., Bankruptcy Judge.

I. Introduction

In order to be confirmed, a Chapter 13 plan must provide that each holder of an allowed unsecured claim will receive property having a value (as of the effective date of the plan) that “is not less than the amount that would be paid on such claim if the estate of the debtor were liquidated under chapter 7 of this title on such date[.]” 11 U.S.C. § 1325(a)(4). When determining the amount that unsecured creditors would receive in a hypothetical Chapter 7…