In re Ranieri
United States Bankruptcy Court, N.D. Illinois
1Opinion of the Court
A. Benjamin Goldgar, United States Bankruptcy Judge
This case shows that the belt-and-suspenders approach to bankruptcy can cause trouble. In his chapter 13 case, debtor Bruno Ranieri stripped off the lien of second mortgagee 21st Mortgage Corp. in two different ways. He confirmed a plan that stripped the lien, and he moved successfully to have the collateral supporting the lien valued at $ 0.00. But there was a problem. The confirmed plan said the lien would be stripped when Ranieri completed his plan payments. The valuation order said the lien would be stripped when he completed his payments…
2Cases cited49 opinions
- Allen v. McCurrySupreme Court of the United States · 1980
- Montana v. United StatesSupreme Court of the United States · 1979
- Taylor v. SturgellSupreme Court of the United States · 2008
- Federated Department Stores, Inc. v. MoitieSupreme Court of the United States · 1981
- United Student Aid Funds, Inc. v. EspinosaSupreme Court of the United States · 2010
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