CitiMortgage, Inc. v. Borm, et al., No. 13-6065 (8th Cir. 2014)
Annotate this CaseThe Creditor appealed from the bankruptcy court's denial of its motion for relief from the automatic stay in the Chapter 13 bankruptcy case of debtors. At issue was whether the bankruptcy court abused its discretion when it denied the Creditor's motion for relief from the stay. The court concluded that the bankruptcy court abused its discretion by denying the Creditor's request to stay relief in light of the debtors' failure to comply with their obligations under their plan (and therefore, the relevant loan documents), by being significantly behind in their payment to the Creditor. Accordingly, the court reversed and remanded.
Court Description: Bankruptcy Appellate Panel. Where the debtors were significantly behind in their payments to CitiMortgage under their Chapter 13 plan, cause existed to grant CitiMortgage's motion for relief from the automatic stay, and the bankruptcy court erred in denying the motion. [ April 01, 2014
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