Opinion
Case No.: 11-20260-TJC
01-09-2012
In re: JOSEPH S. RHODES, JR., Debtor.
SO ORDERED
_________________________
U.S. BANKRUPTCY JUDGE
CORRECTED
CONSENT ORDER APPROVING STIPULATION AND CONSENT IN RESOLUTION
OF HITACHI CAPITAL AMERICA CORPORATION'S OBJECTION TO
CONFIRMATION OF DEBTOR'S CHAPTER 13 PLAN
Upon consideration of the Stipulation and Consent in Resolution of Hitachi Capital America Corporation's Objection to Confirmation of Debtor's Chapter 13 Plan [Docket #70] filed with this Court on January 4, 2012 (the "Stipulation"), a copy of the Stipulation having been mailed to all creditors and parties-in-interest, this Court approves the Stipulation.
Accordingly, it is by the United States Bankruptcy Court for the District of Maryland ORDERED that:
1. Hitachi's Claim No. 7 is hereby amended to an allowed unsecured claim in the amount of $269,000.00;
2. Debtor shall treat Hitachi's Claim No. 7 as an allowed unsecured claim in its Amended Plan dated September 7, 2011 filed at Docket No. 45 and in any further amendments thereto;
3. Hitachi shall receive its pro rata share of its allowed unsecured claim of $269,000.00 from the monthly plan payments distributed to allowed unsecured claims under Debtor's Plan;
4. No amount shall be distributed for payment of pre-petition arrears on any secured claims except only to the extent that such claim(s) is/are fully secured by the value of its collateral; and
5. In exchange for the above treatment, Hitachi's Objection to Debtor's Chapter 13 Plan, and as amended, is withdrawn.
APPROVED AND CONSENTED TO:
_________________________
David M. Gormley, Esquire
Attorney for the Debtor
_________________________
Sherry Lowe Johnson, Esquire
_________________________
Robert R. Smith, Esquire
Attorneys for Hitachi Capital America Corp.
Nancy Spencer Grigsby
Chapter 13 Trustee
CERTIFICATION OF CONSENT
I certify that the terms of the signatures represented by the /s/ on this copy reference the signatures of the consenting parties to the Stipulation and Consent Order.
_________________________
Sherry Lowe Johnson
cc: Sherry Lowe Johnson, Esquire
Dilworth Paxson, LP
Counsel for Hitachi Capital America Corp.
1500 Market Street, Suite 3500E
Philadelphia, PA 19102
Robert R. Smith, Esquire
Local Counsel for Hitachi Capital America Corp.
107 Ridgely Avenue, Ste. 9
Annapolis, MD 21401
David M. Gormley, Esquire
ANDREWS, BONGAR, STARKEY
& CLAGETT, P.A.
Counsel for Debtor
11705 Berry Road, Ste. 202
Waldorf, MD 20603
Nancy Spencer Grigsby, Esquire
Chapter 13 Trustee
4201 Mitchellville Road #401
Bowie, MD 20716