Opinion
Case No. 08-18957-PM.
December 9, 2008
Bennie R. Brooks, Esquire, Landover, Maryland, Counsel for Debtors.
Stephen A. Metz, Esquire, Rockville, Maryland, Counsel for VHG Associates LP.
STIPULATION AND CONSENT ORDER RESOLVING MOTION TO AVOID JUDICIAL LIEN
WHEREAS, on September 8, 2008, Roland Dupree (a/k/a Roland Dupree Sr.) and Fayette Dupree (together, the "Debtors") filed a Motion to Avoid Judicial Lien [Docket No. 27] (the "Motion") against VHG Associates LP ("VHG"), in which the Debtors sought to avoid a certain judicial lien in favor of VHG against real property owned by the Debtors located at 15101 Jeremiah Lane, Bowie, Prince George's County, MD 20721 (the "Property") on account of a judgment entered against the Debtors (among others) and in favor of VHG in the Circuit Court for Prince George's County, Maryland in the amount of $154,267.48 (the "Judgment"); and
WHEREAS, on October 8, 2008, VHG filed an Opposition to the Motion [Docket No. 32] (the "Opposition") and stated, in part, that VHG's lien should survive as an encumbrance upon the Debtors' Property in the amount of $35,342.00; and
WHEREAS, VHG also filed a proof of claim in the total amount of $164,072.97 (on account of the Judgment, plus post-judgment interest until the date of the filing of this bankruptcy case) in which VHG asserted a secured claim in the amount of $35,342.00 (as set forth in the Opposition) and an unsecured non-priority claim in the amount of $128,730.97, subject to amendment upon disposition of the Motion and Opposition ("POC No. 9"); and
WHEREAS, in order to avoid the costs and risks of further litigation, the Debtors and VHG agreed to resolve the Motion and Opposition upon the terms, conditions and provisions of this Stipulation and Consent Order; it is hereby
STIPULATED, AGREED AND ORDERED that:
A. The Motion is granted, in part, and denied, in part, as set forth herein;
B. The Judgment shall constitute a judicial lien against the Property in the reduced amount of $26,671.00 (the "Revised Judicial Lien");
C. The Revised Judicial Lien shall be paid, as a secured claim, to VHG through the Debtors' Chapter 13 Plan (if confirmed by the Bankruptcy Court) and the Debtors shall amend their Chapter 13 Plan to provide for the payment in full of the Revised Judicial Lien;
D. Any portion of POC No. 9 not provided for under the Debtors' Chapter 13 Plan (to VHG) as a secured claim (i.e., any amount in excess of the Revised Judicial Lien) shall be treated and provided for under the Chapter 13 Plan as an allowed unsecured non-priority claim;
E. In the event this Chapter 13 case is either dismissed or converted to another chapter under the Bankruptcy Code, this Stipulation and Consent Order shall be deemed null and void and of no further force and effect.
SO ORDERED
Notice Recipients
Recipients of Notice of Electronic Filing: Recipients submitted to the BNC (Bankruptcy Noticing Center):
District/Off: 0416-0 User: ckearney Date Created: 12/9/2008 Case: 08-18957 Form ID: pdfparty Total: 6 tr Timothy P. Branigan cmecf@chapter13maryland.com aty Bennie R. Brooks bbrookslaw@aol.com aty Stephen A. Metz smetz@srgpe.com TOTAL: 3 db Roland Dupree 3328 Jennings Farm Drive, NW Wilson, NC 27896 db Fayette Dupree 3328 Jennings Farm Drive, NW Wilson, NC 27896 cr VHG Associates LP c/o Stephen A. Metz, Esquire Shulman Rogers Gandal Pordy Ecker, PA 11921 Rockville Pike Suite 300 Rockville, MD 20852-2743 TOTAL: 3