Professional Documents
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In re:
UNITED STATES BANKRUPTCY COURT
DISTRICT OF COLORADO
CORDILLERA GOLF CLUB, LLC
Tax ID I EIN: 27-0331317
Debtor
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Case No. 12-24882-ABC
Chapter 11
FORD MOTOR CREDIT COMPANY LLC
Movant
V.
CORDILLERA GOLF CLUB, LLC
Respondent
MOTION FOR RELIEF FROM AUTOMATIC STAY
FORD MOTOR CREDIT COMPANY LLC ("Movant"), by and through its undersigned
counsel, hereby moves this Court for relief from the automatic stay in order to take possession
of, foreclose on, and to otherwise exercise its rights as a secured creditor with regard to the
subject vehicle described below and/or the insurance proceeds from said vehicle, and in support
of its motion, Movant states as follows:
1. The Debtor, Cordillera Golf Club, LLC ("Debtor"), filed this Bankruptcy on or
about June 26, 2012. The Debtor entered into an agreement to purchase a vehicle in which the
Movant claims a valid security interest, described as follows:
2010 FORD EXPEDITION (1FMJK2A57AEA29970) (the "Vehicle").
2. Pursuant to a Colorado Simple Interest Vehicle Retail Installment Contract (the
"Contract") dated November 30, 2009, a copy of which is attached hereto as Exhibit "A," Debtor
assumed certain payment obligations totaling $41,784.20 due and owing to Movant, thereby
providing Movant a security interest in the Vehicle in the amount to $41,784.20.
3. Movant's security interest in the Vehicle is duly recorded on the Colorado
Certificate of Title, a copy of which is attached hereto as Exhibit "B."
4. Currently, the payoff on the Contract totals $15,719.20. The monthly payment on
the Vehicle is $870.50, with a final payment of $870.70, pursuant to the Contract. The Debtor is
in default in the performance and conditions of the Contract in the approximate amount of
$1, 791.00, in missed payments and late charges. The default includes $920.50 in pre-petition
payments and $870.50 of post-petition payments. Movant is lawfully entitled to take possession
Case:12-24882-ABC Doc#:390 Filed:08/28/12 Entered:08/28/12 06:13:08 Page2 of 12
of the Vehicle under Colorado Revised Statute Section 4-9-609. Payment history is attached
hereto as Exhibit "C."
5. Upon information and belief, the Vehicle has been deemed a total loss. Movant
has no evidence that the Debtor has maintained insurance and/or sufficient insurance on the
Vehicle to pay the entire amount owing. Further, the value of the Vehicle is being eroded by the
expenses set forth above. Accordingly, Movant does not have adequate protection with respect
to its interest in the Vehicle.
6. The Vehicle is not necessary for an effective reorganization as, upon information
and belief, the Vehicle has been deemed a total loss. Movant now has a valid security interest in
the insurance proceeds and seeks relief from the automatic stay to apply the insurance proceeds
against the amounts due and owing Movant.
7. Debtor is a company, not an individual, and therefore, an Affidavit Pursuant to the
Servicemembers Civil Relief Act of 2003 is not applicable.
8. Movant is entitled to relief from stay pursuant to 11 U.S.C. Section 362( d).
WHEREFORE, Movant requests entry of an Order granting relief from the automatic
stay provided in 11 U.S.C. Section 362, to permit Movant to take possession of, foreclose on,
and to otherwise exercise its rights as a secured creditor with regard to the Vehicle and/or the
insurance proceeds from said Vehicle, and for such further relief as the Court deems proper.
Respectfully submitted this 28th day of August, 2012.
\ J \ , ~
et M Keenen
M. Keenen, #32995
Counsel to Movant
Keenen Law, L.L.C.
3773 Cherry Creek North Dr., Suite 575
Denver, Colorado 80209
t: 720-350-4876; f: 720-353-4685
elizabethkeenen@comcast.net
Case:12-24882-ABC Doc#:390 Filed:08/28/12 Entered:08/28/12 06:13:08 Page3 of 12
COLORADO SIMPLE INTEREST VEHICLE RETAIL INSTAL.LUEN"f CONTRACT DATE 11/30/2009
1-801).727-7000 Buyer(andCo-Buyer)Namaandld!J'eliS{lllctuct'lgCooolyand
. .
CORDILLERA GOLF CLUB , LLC .
PO SOX 998/97 HAl N ST, STE 202
EDWARDS CO 91632 , EAGLE
su.Muf FORb UK.
FordCredit
200 8UFFALOHOUNTAIN OR .
SI\VERTHORNE CO 80499
wwwJordcredh.com
Yoo, tna Buyer (arw:l co-&!yclr, Uany), llliiY buy lhe vehk:ie descllbec1 below-lor <:ash 0t on credit Tha-euh prb Is lihiMn be!Qwas "'C.uh Price." The O'lldl
NEW
T"""""
FINANCE Amount Total of
CHARGE Fmanced Paymerrts
Total Sale
Prioe
ANNUAL
PERCENTAGE
RATE
ThtCO*lolyo!$
cledit asa)'Mity!UI
Th&dohramoonl TheamQI.II'IIc:' Thllamourt Tho ......
0.00. % s
thaaedlt ... c:rvoftJ)r(lllid< you,.,;lhave
.._.
"'""'
"""""""'
--
o.oo s 41784.2 $41784.20
YourPaymentSChedUklwllbe:
Narnber ol Paymen!J Amount of Pl!ym!nl! lt:n'thr"'S!m'i!!"'
0
Seeurtt)'lntefnt:
t.atePllymtnl: YoumuapayalatachaiSJflofStS.OOon Nd'lsc:hedullldpaymentrecaiYedtnOI'G
IIIBniOd!lyallllt.
CQnnet: Please sBB lhi& c;orrtJactlor addi1lmill i'tfonrlaOOn on security nonpayment.
prepaymanlperwllly.
COIIMERCIAL USE CONTRACT LATE PAYMENT: H you purchased the
vehicle for commercial use, yl)u must pay a late charge on the portion of
each payment received more than 10 days late of 7 .S percent of the late
amount or $50.00, wflk:hever ts Jesa .
- - - . -
- .,.
0 YOUf last installment paym&nt under lhls contract Is a balooo payment.
EXCESS WEAR. USE AND IMLEAOE gtARGES
11 the box directly above is checked, th!s section, f'ara!7aPh B, and Paragraph C of this
contract epply. Yw may be charged for WOOf based l4'(lfl our lor
normal use. If you exercise the option 1o sell the vehCie back to Creditor under
B, li;A per mile for each rme fn
Anti-Theft Producl (Optional)
0 fl ttn ;$cheeked you pUI"Chtsacl the anfi.lhelt producl(o;) li!Wod t!IJ<A.. l'ho:! puldlase
olsrrti-lheft produet(s)isoptlonalaod not r&quired loobtain credit, even II the product(s)
is already installed on lhe vehicle you selec!ed. You may pun::hasa anti-lheft product(s)
from th8 person of your choice. By signing below, you agtee tD purchase lhe anlltheft
produc;:t{s)atlhopricedisclosed.
Buyei'Sign3 X
YOU ARE REQUIRED TO INSURE
THE VEHICLE. YOU MAY OBTAIN
VEHICLE INSURANCE FROM A
PERSON DF YOUR CHOICE.
UABIUTY INSURANCE COVER
AGE FOR BODILY INJURY AND
PROPERTY DAMAGE CAUSED
TO OTHERS IS NOT INCLUDED.
CREDIT LIFE, CREDIT DISABIL-
ITY AND OTHER OPTIONAL IN
SURANCE ARE NOT REQUIRED
TO OBTAIN CREDIT AND WILL
NOT BE PROVIDED UNLESS
YOU SIGN AND AGREE TO PAY
THE PREMIUM.
C<edit
Olife N/A
Insurance Company
---;;,,;;;;,.,;;;,ed;;;;(;;;s)--1
You want Credit Ufe Insurance.
BuYl!r Signs
Co-B er Signs
Cmdll
N/A
lnSuratlce Company
You want"credit Disability Insurance.
Buyer Signs
. Co-Buyer Signs
OTHER OPTIONAL INSURANCE
coverage aJCid Premtumal'l(l
!nsumnooCOmoany
H/A S___ML&
"'NLA
__!1.&
KIA s____m_
"'
llA _l!lA._
Youwantlheoptionalii'ISUI'antelorwhich
pn!mi!Jm:;are included above.
CNdlt Uf& ancf CNdft Dlaablllty Insurance
areforttHJtennoftnecontract The amount
and covetaQes are shown In a f10lk:e or
agreement given lo you today.
THIS CONTRACT DOES NOT PROVIDE
FOR AUTOMOBILE UABIUTY INSUR
ANCE, AND SAID BUYER ALSO STATES
THAT HE OR SHE HAS/DOES NOT HAVE
'(Wike words not appllcabkt) IN EFFECT
AN AUTOMOBILE UABILITY POLICY AS
DEFlNED IN SECTlON 4271G3(2),
COLORADO REVISED STATUTES, ON
THE MOTOR VEHICLE SOLD BY THIS
CONTRACT.
lth\s bo1!1 chocked you llavepti'Chaled
GuaralttndAutotnobllaProltdlon..Purchaseaf!hlt
........
lem!I.YoumtywilhtoeolllllllanlrlliHIIlotagent
to dMennlrM whether altnllr CCWift!llt m'Y t.
vbtillned .00 lit what eaR. GAP llvflefn. INIY
*'- -ll'lllml ol,lh Cl)fltriCt. You may
r;anc:eiGAJ>fQranyllfna n!all)ftlf!Hnllllrty(30)
daytlftlrGAP-pwchiiNdMCtreceiwlull
ref\Jnd oflheGAPteeor ln!llklla.olol'lgasno
nataSLm.tlbi!Bfort:OilltfonDI'flrOI*IYdMnagil