Payne v. First Community Bank (In re Payne)

MEMORANDUM

MARCIA PHILLIPS PARSONS, Chief Judge.

More than eleven years after their chapter 11 plan was confirmed and their bankruptcy case closed, the Debtors Joseph and Brenda Payne have reopened the case in an effort to avoid the deed of trust held by People’s Community Bank in their residence, and to modify their completed plan to treat the Bank as unsecured. At issue primarily is whether the parties intended in the confirmed plan to substitute the Debtors’ commercial property as the Bank’s collateral in place of the Debtors’ residence, as the Debtors claim, or whether the plan contains a…