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§ 522(d)(6)

In re Checiek

Jun
10
2013
Ruling
Debtors could not pierce corporate veil to claim vehicle titled to one debtor's 100 percent owned corporation as exempt.
Procedural posture

A chapter 7 trustee objected to the debtors' claim of exemption in a truck as a tool of the trade pursuant to 11 U.S.C.S. § 522(d)(6). The trustee conceded that the truck was a tool of the trade but alleged that the debtors could not claim it as exempt because it was titled in the debtor husband's 100 percent owned corporation. The trustee sought turnover of the truck and of the debtor's interest in the corporation.

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Consumer opinion summary, case decided on June 10, 2013 , LexisNexis #0713-008
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Schwab v. Reilly

Jun
17
2010
Ruling
Chapter 7 trustee was not required to object to debtor chef's claimed exemptions in business equipment, valued in allowed range, in order to preserve the estate's right to retain any value in the equipment beyond the value of the exempt interest.
Procedural posture

Petitioner chapter 7 trustee moved to auction respondent debtor's business equipment, in which the debtor had claimed exemptions under 11 U.S.C.S. § 522(d)(5) and (6). The bankruptcy court denied the motion. A district court denied the trustee's request for relief, and the United States Court of Appeals for the Third Circuit affirmed. Certiorari was granted.

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Commercial opinion summary, case decided on June 17, 2010 , LexisNexis #0610-117
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In re Robinson

Apr
14
2010
Ruling
Debtor allowed tools of the trade exemption in vehicle used for transportation to and from work that was also essential to employment.
Procedural posture

A creditor filed a motion for relief from the automatic stay to obtain possession of the chapter 7 debtors' vehicle. The chapter 7 debtors objected and also filed an amended motion to avoid the creditor's nonpossessory nonpurchase money security interest. The debtors sought to avoid the creditor's lien as an impairment to their tools of the trade exemption under 735 ILCS 5/12- 1001(d).

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Consumer opinion summary, case decided on April 14, 2010 , LexisNexis #0610-116
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