Mark Joseph Costin

UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF NORTH CAROLINA
RALEIGH DIVISION
IN RE:
MARK JOSEPH COSTIN
DEBTOR
CASE NO.
04-04404-5-ATS
ORDER DENYING MOTION FOR RELIEF FROM STAY
The matter before the court is the motion for relief from the
automatic stay filed by Barbara Costin. A hearing took place in
Raleigh, North Carolina on June 1, 2005.
Mark Joseph Costin filed a petition for relief under chapter 7 of
the Bankruptcy Code on December 8, 2004. His former spouse, Barbara
Costin, filed a motion for relief from the automatic stay to pursue, in
state court, equitable distribution and other proceedings arising out
of the marital relationship. The chapter 7 trustee opposed the motion
to the extent the equitable distribution action may affect property of
the estate. The debtor also opposed the motion, contending that this
court should retain jurisdiction over the equitable distribution
proceedings in conjunction with its consideration of Ms. Costin’s §
523(a)(15) action.
The primary issue for the trustee is the estate’s interest in
business assets co-owned by the debtor and his brother. Mr. Costin’s
brother has filed a proof of claim related to his claimed share of the
business assets, and the trustee will file an objection to the claim so
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the court may determine the estate’s interest in the assets. The
trustee is to file that objection within 30 days of the date of this
order.
Once the issues related to property of the bankruptcy estate are
resolved, the court will revisit Ms. Costin’s motion for relief from
the stay and decide whether the equitable distribution action should be
determined by this court or the state court. In the interim, however,
the motion is DENIED.
SO ORDERED.
DATED: June 2, 2005
Case 04-04404-5-ATS Doc 75 Filed 06/02/05 Entered 06/02/05 10:46:53 Page 2 of 2