In Re Cachu

FINDINGS OF FACT AND CONCLUSIONS OF LAW RE OBJECTION TO CONFIRMATION OF CHAPTER 13 PLAN

In this chapter 13 contested matter, the court is called to fix the “cramdown” interest rate applicable to the County of Kern’s claim for real property taxes in light of the U.S. Supreme Court’s ruling in Till v. SCS Credit Corporation, 541 U.S. 465 , 124 S.Ct. 1951 , 158 L.Ed.2d 787 (2004). An objection to confirmation of the Debtors’ chapter 13 plan was filed by Phil Franey, Treasurer/Tax Collector for Kern County (the “County”). Jerri S. Bradley, Esq., appeared on behalf of the County. David J. Fillerup, Esq., appeared on behalf of Carlos and Silvia Cachu (the “Debtors”). M. Nelson Enmark, Esq. appeared in his capacity as the chapter 13 trustee (the “Trustee”). The court has jurisdiction over this matter pursuant to 28 U.S.C. § 1334 and 11 U.S.C. § 1325 . This is a core proceeding pursuant to 28 U.S.C. §§ 157 (b)(2)(A), (L), & (0). For the reasons set forth below, the Debtors’ chapter 13 plan (the “Plan”) will be confirmed with interest payable on the County’s property tax claim at 4.75% per annum.

Findings of Fact

This bankruptcy commenced on August 4, 2004. The Debtors have not filed…