11 U.S.C. §§ 1325(a)(4); 1326(a), (a)(2); Fed. R. Bankr. P. 3015(b)). Chapter 13 Trustee’s objection to confirmation sustained and his motion to reconvert case to Chapter 7 case granted. Debtor’s case been pending over one year without any payment to unsecured creditors; Debtor has failed to propose a confirmable Chapter 13 plan; he has failed to keep payments to the Chapter 13 Trustee current and failed to keep his mortgage payments current. Creditors will receive more value through a Chapter 7 Trustee’s liquidation of assets than under a Chapter 13 plan. Debtor’s counsel’s argument that Chapter 13 plan should not have to be proposed or funded until after claims bar date is without merit
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Date:
06/08/2006