In re: Gordon et al

Filing 9

ORDER granting in part 5 Motion for Stay Pending Appeal. By Bankruptcy Court Judge Howard R. Tallman on 11/21/2013.(klyon, )

UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF COLORADO
Honorable Howard R. Tallman
In re:
MICHAEL F. GORDON and
REBECCA A. GORDON,
Debtors.

)
)
) Case No. 13-16089 HRT
)
) Chapter 7
)

ORDER ON MOTION FOR STAY PENDING APPEAL
This case comes before the Court on Appellants’ Motion for Stay Pending Appeal (docket
#41) (the “Motion”).
The Court has reviewed the Motion and its files in this matter. The Court’s analysis of
the case law with respect to the underlying issue in this appeal suggests to it that the likelihood of
the Debtor prevailing on appeal is not great. Nonetheless, the Court finds that a limited stay
pending appeal is appropriate. The Court has considered the balance between harm to the estate
if a stay is granted and harm to the Debtor if it is not. The risk that the funds at issue could be
dissipated and lost to the estate pending the appeal is real and the Court will protect the estate
against that possibility by ordering the Debtor to turn over the funds to the Trustee.
The amount of non-exempt funds at issue here is $2,051.00. The potential unsecured
claims in this case are roughly $75,000.00. Any dividend paid from those non-exempt funds is
likely to be a small one. The Court recognizes that requiring the Trustee to delay administration
of those funds until this appeal is resolved will delay any distribution to creditors. But, because
the potential dividend will be a small one, the hardship to creditors will be correspondingly
small. Therefore, it is
ORDERED that Appellants’ Motion for Stay Pending Appeal (docket #41) is
GRANTED IN PART. Debtors shall turn over to the Trustee all funds in the savings account
that was the subject of this Court’s Order on Objection to Exemption (docket #32). Trustee shall
preserve those funds until the pending appeal is finally determined such that the funds may be
returned to the Debtors in the event they are successful on appeal.
21st
Dated this _____ day of November, 2013.
BY THE COURT:

_______________________________
_______________________________
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Howard R T ll
H
d R. Tallman, Chief Judge
Chi f J d
United States Bankruptcy Court