Opinion ID: 2973639
Heading Depth: 2
Heading Rank: 2

Heading: Bankruptcy court’s judgment

Text: -3- No. 05-1701 Kasben v. Dery The present appeal is based on a final disbursement by the trustee of the bankruptcy estate in relation to the sales of the Marital and Boone Farms. In November of 2004, the bankruptcy court determined the amount that Hoffman’s estate owes Kasben for the sale of the two farms that were later declared by the state court to be Kasben’s property. First, the bankruptcy court subtracted the costs associated with the sales of the two farms, insurance expenses, and Hoffman’s attorney fees from the gross proceeds. It then subtracted an additional $291,000.00—the amount that it had determined was due Hoffman in the amended judgment of divorce—from the proceeds on the sale of both farms in order to reach the net amount owed by Hoffman to Kasben. (We note that both parties agree that the divorce award was actually $288,000. The bankruptcy court overstated the award by $3,000 and should therefore use $288,000 as the correct amount on remand.) After subtracting the costs of selling the properties and Hoffman’s divorce award from the money Hoffman’s estate owes Kasben, the bankruptcy court deducted funds that the bankruptcy trustee has already disbursed to Kasben. It thus concluded that the estate owed Kasben a remaining balance of $12,877.97. The district court, reviewing the bankruptcy court’s determination de novo, affirmed the order permitting the final disbursement by the trustee. This timely appeal followed.