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In re Gerald James Gesinger and Heidi Marie Gesinger

Bankr. No.: 
99-50185
Chapter: 
12
Date of Decision: 
February 9, 2000
Issue: 
Whether the case should be dismissed?
Ruling: 
Case was dismissed. Based on their own income and expense projections, the debtors did not have sufficient income to pay unsecured creditors under the best interest of creditors test at ยง 1225(a)(4). The debtor's lack of good faith in filing the case and proposing a confirmable plan was also shown by the lack of accuracy in some schedules and their statement of affairs, poor disclosure of several large pre-petition expenditures, some inconsistencies in their post-petition monthly reports, a lack of timely progress on contested issues with a major creditor, a failure to abide by some Code requirements for post-petition actions by a debtor-in-possession, an inaccurate liquidation analysis, and a failure to timely propose a confirmable plan.
Full Bankruptcy Court Decision: