Dingo Debtor’s principal residence, worth $105,000, is subje…

Dingo Debtor’s principal residence, worth $105,000, is subject to two encumbrances: (1) a first mortgage for $100,000; and (2) a judicial lien in favor of Peacock Paycheck Day, Inc. for $60,000 that is junior to the mortgage in priority. Assume that under the relevant state’s law, Dingo is entitled to claim a $10,000 homestead exemption in the home. If Dingo files a petition under Chapter 7 and brings a lien avoidance action under §522(f), how much, if any, of the lien can be avoided?

Dwight Schrute filed a petition under Chapter 7 of the Bankr…

Dwight Schrute filed a petition under Chapter 7 of the Bankruptcy Code. Three years ago, Dwight Schrute fraudulently conveyed a beet farm, Schrute Farms, to his mom. He made no attempt, however, to conceal the transfer, believing correctly that his creditors were too unsophisticated to attack the transfer. Under the relevant state fraudulent conveyance law, only those creditors who held claims against Dwight Schrute at the time of the transfer can avoid it as fraudulent. A five-year statute of limitations applies to such actions. Two years ago, Dwight Schrute’s fortunes improved briefly and he paid off all of his old creditors except Crazy Cat Lady Angela, who still holds a $3,000 unsecured claim against Dwight Schrute for infliction of mental distress on her cats. Since then, Dwight Schrute’s financial situation has deteriorated, and he now owes a total of $100,000 in unsecured debt (including Crazy Cat Lady’s claim). Assume that Schrute Farms is worth $50,000. Assume that the trustee recovers Schrute Farms (value = $50,000) and $10,000 in additional assets, for a total estate of $60,000. Assume that Dwight Schrute claims no exempt property. Also assume that the IRS has a tax claim of $10,000.00 from 2007. In addition the bankruptcy court allows the trustee reasonable compensation of $1,000, and that there are no other administrative expenses. Finally, assume that all creditors and the IRS file timely proofs of claim. Dwight Schrute’s estate will be distributed in the following order of priority:

Flanders Fraud set up a corporation named the Fraud Foundati…

Flanders Fraud set up a corporation named the Fraud Foundation, Inc. to operate a ponzi scheme. Under the scheme, Flanders would promise extremely high returns in order to persuade investors to invest their life savings with the Fraud Foundation. In order to keep the scheme going, the Fraud Foundation would use the money from later investors to pay off the earlier investors. Ultimately the scheme collapsed and the defrauded investors filed separate class actions against both Flanders and the Fraud Foundation in state court. The Fraud Foundation suit has not yet been set for trial. The suit against Flanders did go to trial and the jury found that Flanders had engaged in fraud and awarded damages against him and in favor of the investor plaintiffs. Last week, one of the investor-plaintiffs garnished Flanders’s bank account. Both Flanders and the Fraud Foundation immediately filed petitions under Chapter 7 of the Bankruptcy Code. In the Fraud Foundation Chapter 7 case, the claims of the investors:

Select either the Methyl Red OR the Vouges-Proskauer test th…

Select either the Methyl Red OR the Vouges-Proskauer test then answer the following questions about that test only: a) what does this test tell you about bacterial metabolism? b) what reagents are used in this test? (just list them, do not give a step by step procedure). c) name one bacterium (full name) that gives a positive result for the test that you are describing.