Bankr. No.:
03-40965
Chapter:
11
Date of Decision:
April 2, 2004
Issue:
Whether Chapter 11 case should be dismissed as a bad faith filing?
Ruling:
Case was dismissed as a bad faith filing. On the eve of bankruptcy, Debtor purchased real property from an insider to protect the land from foreclosure, Debtor essentially had only one creditor who had recently obtained a large judgment and Debtor was unable to post the appeal bond, and Debtor’s plan was not confirmable.
Full Bankruptcy Court Decision:
