In the case of In re Osborn, Case No. No. 06-6061WM (8th Cir. BAP 2007) Capital One Auto Finance (”Capital One”) held a claim in the amount of $20,279.80, secured by a purchase money security interest in a 2003 Chevrolet pickup truck. The truck was purchased and the debt was incurred within 910 days prior to the filing of the bankruptcy petition. The debtors’ Plan proposed to surrender the truck as full payment of the entire debt, leaving Capital One without an unsecured claim. Capital One objected to the Plan and the debtors objected to Capital One’s claim. The matter was submitted on briefs and stipulated facts. The bankruptcy court confirmed the Plan and allowed Capital One’s claim as fully secured. Capital One appealed, and the 8th Circuit Bankruptcy Appeals Panel affirmed.

Congratulations to NACBA member Vanessa Hayden of Raymore, MO for her excellent work on this important case.