In Re Melcher

MEMORANDUM DECISION OVERRULING OBJECTION TO CONFIRMATION AND CONFIRMING JOINT PLAN OF REORGANIZATION

Before the Court is the Joint Plan of Reorganization (“Plan”), proposed for confirmation by Jacqueline C. Melcher (“Debtor”), the Debtor in this Chapter 11 case, and the Official Committee of Unsecured Creditors (“Committee”). An objection to confirmation has been filed by the Estate of Terrence P. Melcher (“Creditor”).

Debtor is represented by Terrance L. Stinnett, Esq. and Dennis D. Davis, Esq. of Goldberg, Stinnett, Meyers & Davis. The Committee is represented by John D. Fiero, Esq. of Pachulski, Stang, Ziehl, Young, Jones, & Weintraub P.C. Creditor is represented by Lance N. Jurich, Esq. of Loeb & Loeb LLP. The matter has been submitted for decision after trial and post-trial briefing. At trial, Debtor and Committee called Kevin A. Spellman (“Spell-man”), an appraiser, and Debtor as witnesses. Creditor called Rita E. Spence (“Spence”), an appraiser, as its witness.

This Memorandum Decision constitutes the Court’s findings of fact and conclusions of law, pursuant to Rule 7052 of the Federal Rules of Bankruptcy Procedure.

I.

BACKGROUND

Debtor commenced this case by filing a…