In re Griffin, Bankruptcy No. 91-41912 F.
Decision Date | 20 November 1991 |
Docket Number | Bankruptcy No. 91-41912 F. |
Citation | 143 BR 535 |
Parties | In re Bobby Joe GRIFFIN, Debtor. |
Court | U.S. Bankruptcy Court — Eastern District of Arkansas |
Martha Jett McAlister, Little Rock, Ark., for Green Tree Acceptance, Inc.
J.R. Buzbee, Little Rock, Ark., for debtor —Bobby Joe Griffin.
Richard L. Cox, Hot Springs, Ark., for Chapter 7 Trustee.
Charles Tucker, Little Rock, Ark., for U.S. Trustee.
Pending before the Court is the "Motion for Order Requiring Debtor to Elect Reaffirmation, Redemption or Surrender" filed by Green Tree Acceptance, Inc., a secured creditor in the above-styled case. Green Tree Acceptance, Inc.'s motion filed pursuant to 11 U.S.C. § 521(2) seeks to have Bobby Joe Griffin, the debtor, make an election to either reaffirm his debt, or redeem or surrender the creditor's collateral which is a 1987 Liberty Model Mobile Home.
Subject matter jurisdiction is retained pursuant to 28 U.S.C. §§ 1334 and 157. This proceeding is a core proceeding pursuant to 28 U.S.C. § 157(b).
The parties have stipulated the facts as follows:
11 U.S.C. § 521 provides in pertinent part:
The issue before the Court is whether, as a condition of retaining possession of property, a debtor pursuant to 11 U.S.C. § 521(2) must surrender the collateral, redeem the collateral or reaffirm a debt even though all obligations owed on the debt are current.
The creditor argues that the election requirements of 11 U.S.C. § 521(2) are mandatory. The debtor asserts the opposite. It...
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