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IN RE JONES

Bankruptcy No. 80-00428.

5 B.R. 736 (1980)

In re Donald Joseph JONES, Mary Francis Jones, Debtors. VIRGINIA NATIONAL BANK, Plaintiff, v. Donald Joseph JONES, and Mary Francis Jones, Defendants.

United States Bankruptcy Court, E.D. Virginia, Norfolk Division.

September 4, 1980.

Attorney(s) appearing for the Case

Alexander P. Smith, Smith & Owens, Norfolk, Va., for debtors.

Stuart D. Glasser, Glasser & Glasser, Norfolk, Va., for Virginia Nat. Bank and David R. Levin, Portsmouth, Va., Trustee.

HAL J. BONNEY, Jr., Bankruptcy Judge.

Quite simply, by what standards shall property be valued, pursuant to 11 U.S.C. 1325(a)(5)(B)(ii), when the Chapter 13 debtor seeks to deal with secured creditors in the plan?

Since the effective date of the Bankruptcy Code, October 1, 1979, perhaps more judicial decisions have been required in Chapter 13 proceedings than in any other. A vastly new bankruptcy philosophy here exists. The decisions have generally been of...

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