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Chapter 7 & 13 | Consumer Bankruptcy

Chapter 7

Minnesota’s Bankruptcy Judges Enact Rule Governing Chapter 13 Lien Stripping

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Just seven months after the federal appeals courts upheld the right of chapter 13 debtors to strip off a completely unsecured second mortgage on homestead real estate (in a case litigated by Craig Andresen), Minnesota’s four bankruptcy court judges enacted Local Rule 3012-1, which sets forth the procedure for lien stripping.  This action demonstrates the…

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Eighth Circuit Appeals Court Ruling Preserves Lien Stripping in Chapter 13 Bankruptcy Cases

The U.S. Court of Appeals issued its ruling in In re Fisette, 695 F. 3d 803 (8th Cir. 2012), saying that the manner in which the trustee’s appeal was presented was improper.  The Eighth Circuit’s action has the effect of leaving undisturbed the Bankruptcy Appellate Panel’s opinion establishing lien stripping in Minnesota and the other states…

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