In re Vicente Zarate and Ingrid R. Zarate, Case No.: 2-12-bk-16597-PC
Feb 24, 2012OUTCOME: Chapter 11 Plan Confirmed
On June 5, 2013, I confirmed and authored a plan of reorganization in a Chapter 11 case entitled In re Vicente Zarate and Ingrid R. Zarate, Case No.: 2-12-bk-16597-PC. This case involved the successful ... reorganization of the loans on the Debtors’ primary residence and their multiple rental properties. The Plan also provided for the successful sale of one of their income properties. I was able to successfully value the debtors’ properties in order to bifurcate the secured claims on all three of the Debtors’ income properties as well as the second lien on Debtors’ primary residence, stripping off approximately $3,416,000.00 in secured liens. I was also able to successfully cram down the objecting classes and pay only 1% over 5 years to the debtors’ general unsecured creditors who were owed approximately $7.2 million
