- 11 U.S.C.
In re Okwonna-Felix
Aug
03
2011
Ruling
Settlement proceeds from undisclosed lawsuit were exempt but subject to lien of secured creditor.
Procedural posture
Movant debtor sought to exempt $5,337.50 in proceeds to be paid pursuant to a settlement of a lawsuit against its insurer received from a breach of contract cause of action for the insurer's failure to pay sufficient proceeds under a policy after Hurricane Ike damaged the debtor's homestead. A secured creditor, the debtor's mortgagee, claimed an interest in the proceeds as well.
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Court
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