In re Namal Enterprises, LLC

FINDINGS OF FACT AND CONCLUSIONS OF LAW

Michael G. Williamson, Chief United States Bankruptcy Judge

In its first bankruptcy case, the Debtor confirmed a plan that expressly acknowledged that the Debtor owed TD Bank, which held a mortgage on the Debtor’s property, $2,001,929.63 on the parties’ loan. Although the Debtor was only obligated to pay TD Bank $1.4 million under the plan in the Debtor’s first case, that plan provided that TD Bank would be owed the full $2,001,929.63 (less any payments made under the plan) in the event the Debtor defaulted on its plan payments. But when the Debtor…