supplemental objection
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8/6/2019 SUPPLEMENTAL OBJECTION
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ENVER W. PAINTER, JR. (JD 2525)
Attorney at Law, A Law Corporation
1188 Bishop Street, Suite 2505
Honolulu, Hawaii 96813
Telephone: (808) 537-9777Facsimile: (808) 537-9207
General Counsel for Trustee
DANE S. FIELD
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF HAWAII
In re
DALE JULIAN PARSONS, JR., and
MARY VIRGINIA PARSONS
Debtors
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Case No. 09-02937
TRUSTEES SUPPLEMENTAL
OBJECTION TO DEBTORS
MOTION TO COMPEL TRUSTEE
TO ABANDON PROPERTY
Continued HearingDate: August 10, 2011
Time: 10:30 a.m.
Judge: The Honorable Robert J. Faris
TRUSTEES SUPPLEMENTAL OBJECTION TO DEBTORS MOTION
TO COMPEL TRUSTEE TO ABANDON PROPERTY (Dkt. # 208)
Comes Now the duly appointed and acting Chapter 7 Trustee, Dane S.
Field, by and through his undersigned counsel and object to the Debtors Motion
to Compel Trustee to Abandon Property filed herein on June 20, 2011, Dkt. # 208
as follows.
U.S. Bankruptcy Court - Hawaii #09-02937 Dkt # 224 Filed 08/08/11 Page 1 of 3
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As stated in the Trustees initial objection to Debtors instant Motion, it is
axiomatic that the burden of proving that the property to be abandoned is of
inconsequential value or benefit to the estate rest squarely upon the shoulder of the
party requesting abandonment. Here the Debtors/ Movants have not meet their
burden.
Also as stated in the Trustees initial objection to Debtors instant Motion,
the Trustee is negotiating with American Savings Bank (ASB) for the sale of the
property with a substantial carve out for the estate.
Lastly, since filing his initial objection to the Debtors instant Motion, the
Trustees has discovered that American Savings Banks (ASB) purported
mortgage in the subject property was not properly perfected at the time of the
filing of the petition. To the contrary, the Mortgage was in fact in favor of MERS
as nominee for ASB at the time of the filing of the petition. It was only
subsequent to the filing of the petition that MERS conveyed its mortgage interest
in the subject property to ASB. The Trustee believes that his hypothetical lien
creditor status conferred by 544 of the Bankruptcy Code is superior to and has
priority over any security interest ASB may claim in the property. The Trustee has
advised ASB of his belief that his 544 status is superior to any claimed mortgage
interest of ASB and is awaiting ASBs response.
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The Trustees counsel has also advised Debtors counsel, Ramon Ferrer of his
beliefs regarding the priority of ASBs mortgage interest vis a via the Trustees
hypothetical lien creditor status and has requested that the Debtors withdraw their
instant Motion. To date Mr. Ferrer has not responded to counsel requests.
The Trustees counsel is presently in the Republic of Palau and will not be
able to attend the continued hearing on the instant motion in person or via
telephone.
As the subject property has value to the estate, the amount of which is yet to
be determined and which amount could be substantial should ASB agree with the
Trustees assessment of the priorities of their respective claims or the Trustee
prevail on his belief that his interest in the property is superior to ASBs
unperfected mortgage interest, the instant Motion should be denied.
Alternatively, the Trustee requests that the hearing on the Motion be continued
until his counsel can appear before the Court and present argument and evidence
of the estates interest in the subject property.
Dated: Koror, Palau, August 9, 2011
/s/Enver W. Painter, Jr.
E NVER W. PAINTER, JR
General Counsel for Trustee DANE S. FIELD
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