Seaver v. New Buffalo Auto Sales, LLC, et al., No. 13-6005 (8th Cir. 2013)
Annotate this CaseThese consolidated appeals concerned a home previously owned by debtor. On appeal, the Trustee challenged the bankruptcy court's order holding that he recover nothing from defendants on his action to avoid a transfer which occurred when defendants perfected their liens on estate property postpetition. GMAC challenged the part of the order holding that the automatic stay was not violated and that GMAC lacked standing in the matter. The bankruptcy appellate panel (BAP) concluded that GMAC did not have standing to appeal any violation of the stay because, if GMAC was aggrieved, it was either by a wrongful foreclosure by U.S. Bank or by its own failure to protect its interests, not by the registration of the judgments or the order. Therefore, the court dismissed GMAC's appeal. In regards to the Trustee's claim, the BAP affirmed the bankruptcy court's awarding of nothing to the Trustee where the estate's interest had no value in and of itself, and the loss of a right to use some sort of "leverage" to get money to which the estate was not entitled was not the basis for a cause of action.
Court Description: Bankruptcy Appellate Panel. For the panel's prior opinion in the case, see Seaver v. New Buffalo Auto Sales, 459 B.R. 6 (B.A.P. 8th Cir. 2011). GMAC had no standing to appeal any violation of the stay by the judgment creditors and its appeal is dismissed; estate suffered no damages from registration of certain judgments and the court did not err in awarding the trustee nothing under Section 550.
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