Ralph Henry Leyrer

UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF NORTH CAROLINA
RALEIGH DIVISION
IN RE:
RALPH HENRY LEYRER, JR.
DEBTOR
CASE NO.
10-01582-8-SWH
ORDER SUSTAINING OBJECTION TO CONFIRMATION
The matter before the court is the objection to confirmation filed by the debtor on grounds
that the confirmation order filed by the chapter 13 trustee uses the Till interest rate with regard to
the treatment of unsecured creditors rather than the federal judgment rate, which is what the debtor
contends should apply. A hearing took place in Raleigh, North Carolina, on January 26, 2011.
Ralph Henry Leyrer, Jr., filed a petition for relief under chapter 13 of the Bankruptcy Code
on March 1, 2010. On October 20, 2010, the chapter 13 trustee filed a motion for confirmation of
the chapter 13 plan. As proposed by the trustee, the plan pays allowed general unsecured claims in
full plus interest at 5.25%, which is the Till rate. See Till v. SCS Corp., 541 U.S. 465, 124 S. Ct.
1951,158 L. Ed. 2d 787 (2004). The debtor objects to use of the Till rate and argues that the federal
judgment rate is the appropriate rate of interest.
SO ORDERED.
SIGNED this 24 day of February, 2011.
________________________________________
Stephani W. Humrickhouse
United States Bankruptcy Judge
____________________________________________________________
Case 10-01582-8-SWH Doc 34 Filed 02/24/11 Entered 02/24/11 15:45:57 Page 1 of 2

This issue recently arose in another case in this district and, because the court concurs with
that result and in the interest of consistency, the court adopts in its totality the reasoning set out by
Judge J. Rich Leonard in In re Suggs, Case No. 10-04400-8-JRL (Bankr. E.D.N.C. Feb. 22, 2011)
(Order Sustaining Debtors’ Objection to Confirmation of Plan).
Accordingly, for the reasons set forth in Suggs, the objection to confirmation is ALLOWED.
The plan shall provide for interest payments to unsecured creditors both pre- and post-confirmation
at the federal judgment rate pursuant to § 1325(a)(4).
SO ORDERED.
END OF DOCUMENT
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