Bankruptcy court signs off on Boyd repayment plan; one issue remains unresolved

DENVER — U.S. Bankruptcy Court in Denver has signed off on a Chapter 13 bankruptcy payment plan for Berthoud resident Christopher Boyd.

The Chapter 13 plan will mean that Boyd, who filed bankruptcy in July last year, will repay $16,320 in debt in 60 payments of $272 each.

Chapter 13 is sometimes referred to as a “wage earner’s plan,” in that it permits someone with a reliable income stream to repay debt over time. 

The amended Chapter 13 plan that the court approved makes no mention of the reason that bankruptcy was filed in the first place: a $337,306 judgment against Boyd in a case involving the disappearance of a crop of hemp.

The attorney for Hemp Recovery Co. LLC, which challenged whether Boyd could discharge a judgment through bankruptcy, said it was his understanding that court action on Hemp Recovery’s motion will ultimately be determined and, if successful, the amount would be added to what Boyd owes.

The bankruptcy trustee in this case declined to clarify the status of the Hemp Recovery complaint, but a bankruptcy court record dated Oct. 27 sets a Jan. 31 hearing to address arguments. 

The bankruptcy case stemmed from a 2020 court decision, affirmed on appeal in 2021, in which a hemp operation in Crawford, Colorado, was determined to have been defrauded out of its crop. The hemp operation has been working unsuccessfully to collect on the judgment since that time. The court in that case determined that Christopher Boyd, together with his father, Thomas Alan Boyd of Longmont, was responsible for paying $337,306. The court determined that Thomas Alan Boyd was “jointly and severally” responsible for $606,714 in damages.

The bankruptcy, filed in U.S. Bankruptcy Court, District of Colorado, is 22-12455TBM.

Source: BizWest

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