IN RE WARNER

BAP No. SC 82-1418 EAsG, Bankruptcy No. 8202330-K11.

30 B.R. 528 (1983)

In re Reuben George WARNER, Laurie L. Warner, Debtors. Reuben George WARNER, Laurie L. Warner, Appellants, v. UNIVERSAL GUARDIAN CORPORATION, Appellee.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided April 28, 1983.


Attorney(s) appearing for the Case

Rezso Magashazy, San Diego, Cal., for appellants.

A.C. Foell, A Law Corp., Garden Grove, Cal., for appellee.

Before ELLIOTT, ASHLAND and GEORGE, Bankruptcy Judges.


OPINION

ELLIOTT, Bankruptcy Judge:

The debtors appeal from an order dismissing their joint Chapter 11 case. We reverse.

Mr. Warner and his two sons work for an auto salvage yard. In mid 1981 appellee Universal Guardian Corporation (Universal) commenced foreclosure of a deed of trust they held on the Warners' home by filing a notice of default. On the eve of foreclosure the Warners conveyed the property to a newly formed corporation, "The Warner-Bothe...

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