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Chapter 13 Plan of Reorganization
Richard Olson filed four Chapter 13 Bankruptcy Petitions and Plans in a five year period- the last one on the eve of the foreclosure of his home. The assignee of his original mortgage lender Bank of America objected to confirmation of his latest Plan on the basis that it failed to comply with the confirmation...
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The Illinois Supreme Court reversed, noting that just because the Seymours had a legal duty to disclose their suit but failed to do so did not establish intent to deceive or manipulate the Bankruptcy Court. Nor, as the Defendants had asserted, did the Seymours’ 2010 Motion to Modify constitute proof that they were aware of...
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Whether the issue is a judgment in State Court or confirmation of a Bankruptcy Plan of Reorganization, only "final and appealable" decisions may be overturned by a higher Court. Maybe we all know that, but once in a while we need to be reminded just what is and is not final.
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