Examples of Property Protection Advances in a sentence
As to Wilmington Trust’s claim of $25,165.06 in property protection advances (“Property Protection Advances”), Debtor asserts in its Claim Objection that Wilmington Trust is not entitled to Property Protection Advances because there has been no showing that Wilmington Trust actually advanced monies on behalf of the Debtor to warrant 192 ECF No. 99.193 12/11/2019 Hr. 80: 20–22.194 12/11/2019 Hr. 59.195 11 U.S.C. § 502(b).
Wilmington Trust is not entitled to Property Protection Advances because there has been no showing that the Creditor actually advanced monies on behalf of the Debtor to warrant reimbursement.
This is in conjunction with the E-Rate program Category 1 funding.
Interest on Advances As to Wilmington Trust’s claim of $122.44 in interest on advances (“Interest on Advances”), because Debtor’s Claim Objection has been sustained and Wilmington Trust’s claim of $25,165.06 in Property Protection Advances has been disallowed, the Court need not examine the Interest on Advances any further.
Therefore, the ultimate burden in establishing allowance of the Property Protection Advances shifted to Wilmington Trust.No evidence was produced by Wilmington Trust supporting the enforceability of Property Protection Advances against the Debtor under the Loan Agreement.206 Without more, Wilmington Trust’s listing of the line item in the Proof of Claim unsupported by documentation or a calculation is not enough to meet its ultimate burden in establishing allowance of the claim.