Stephen Thomas Yelverton

UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF COLUMBIA
In re
STEPHEN THOMAS YELVERTON,
Debtor.
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Case No. 09-00414
(Chapter 11)
MEMORANDUM DECISION AND ORDER RE OBJECTION
TO THE PROOF OF CLAIM OF WADE H. ATKINSON, JR.
On May 14, 2009, the debtor commenced the above-captioned
case under chapter 11 of the Bankruptcy Code. 	Thereafter, Wade
H. Atkinson, Jr., filed a proof of claim in the amount of
$528,434.94, stemming from a promissory note dated November 1,
2007. 	The debtor timely objected to the proof of claim. 	At
hearings on the objection on February 24, 2010, and March 24,
2010, I allowed the claim, as unsecured, in the principal amount
of $313,900, leaving open the issue of the amount of interest
allowed on the claim and directing the debtor to submit a
calculation of interest. 	On April 5, 2010, the debtor submitted
the following calculations of interest owed on the principal of
the claim:
– 	$9,750 interest on $50,000, advanced on or about
The document below is hereby signed.
Signed: May 21, 2010.
_____________________________
S. Martin Teel, Jr.
United States Bankruptcy Judge
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October 1, 2007, at 1% interest per month for 19 and
one-half months;
– 	$500 interest on $100,000, advanced on or about
November 1, 2007, at 1% interest per month for one-half
a month;
– 	$27,750 interest on $150,000, advanced on or about
November 1, 2007, at 1% interest per month for 18 and
one-half months;
– 	$16,500 interest on $100,000, advanced on or about
January 1, 2008, at 1% interest per month for 16 and
one-half months; and
– 	$1,877 interest on $13,900, advanced on or about April
1, 2008, at 1% interest per month for 13 and one-half
months.
Taking the sum of these amounts, the total interest due on
the principal of the claim is $56,377, an amount which Atkinson
agrees is accurate. 	In the document on which the debtor
submitted his calculations, however, the debtor instead listed
the total interest due as $28,189, stating that this number is
appropriate because “the Debtor will seek a Discharge of one-half
of the total interest due.” 	While the debtor is entitled to seek
to discharge half of the interest claim through his plan, he will
not be entitled to a discharge until he completes the plan.
§ 1141(d)(5). 	Accordingly, decreasing the interest claim by half
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at this time is premature. 	It is thus
ORDERED that the proof of claim of Wade H. Atkinson is
allowed as an unsecured claim in the amount of $370,277,
representing $313,900 in principal and $56,377 in interest.
[Signed and dated above.]
Copies to: Debtor; Wade H. Atkinson, Jr.; Office of the United
States Trustee.
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