Bank One, NA v. Leuellen (In Re Leuellen)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that the “risk of depreciation of collateral is a risk that a secured creditor always bears”
• noting that the good faith requirement and the requirement of court approval of a modification upon notice and hearing “provide important checks against debtors indulging their internal ‘whims’ or engaging in the ‘subterfuges’ feared by the Nolan Court.”
• discussing the mechanisms available to protect the interests of secured creditors
• “The more persuasive view, however, is that each secured creditor should be considered as a separate class, permitting the debtor to treat each secured creditor individually.”
• “[Section 1322(b)(8)] contemplates surrender of collateral as a form of payment . . . .”
• “Debtors who have difficulty making plan payments should be encouraged to reduce expenses, such as by surrendering a vehicle . . .” rather than dismissal, refiling or conversion

Source: CourtListener parenthetical corpus (CC0).