- 11 U.S.C.
Perkins, In re
Apr
06
2023
Ruling
Plan proposing 401(k) contributions of 15% of debtors' salary while paying unsecured creditors less than 25% of their claims was confirmed absent rebuttal of the presumption of good faith. (Bankr. S.D. Tex.)
Issue(s)
Property of the Estate; Exclusions; ERISA, Deferred Compensation and Annuity Plans.
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Court
:
- 11 U.S.C.
Penfound, In re--Penfound v. Ruskin
Aug
10
2021
Ruling
Chapter 13 debtor could not use retirement contributions from years earlier as a basis forshielding voluntary post-petition contributions from unsecured creditors. (6th Cir.)
Issue(s)
Property of the Estate; Exclusions; ERISA, Deferred Compensation and Annuity Plans.
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:
Judge or Jurisdiction information not available
- 11 U.S.C.
Lehman Bros., In re--Lehman Bros. v. Giddens
Jun
15
2020
Ruling
Contributions to “top hat” deferred compensation plan were not excluded from debtor’s bankruptcy estate. (Bankr. S.D.N.Y.)
Issue(s)
Property of the Estate; Exclusions; ERISA, Deferred Compensation and Annuity Plans.
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Court
:
( Judge Chapman ) [ Bankruptcy Court ]
- 11 U.S.C.
Garza, In re
Aug
15
2017
Ruling
Debtors were allowed to exclude monthly contributions the husband made to his 401(k) planwhen they determined their disposable income. (Bankr. S.D. Tex.)
Issue(s)
Property of the Estate; Exclusions; ERISA, Deferred Compensation and Annuity Plans.
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Court
:
- 11 U.S.C.
In re Cantu
Jul
14
2016
Ruling
Debtor could make voluntary contributions to retirement account and deduct the payments from disposable income.
Issue(s)
Could debtor claim an exemption in payments to a retirement plan after completing payments in the same monthly amount towards a loan from the plan?
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Court
:
- 11 U.S.C.
Parks v. Drummond (In re Drummond)
Aug
06
2012
Ruling
Bankruptcy court properly sustained trustee's objection to confirmation based on improper deductions for voluntary postpetition 401(k) contributions.
Procedural posture
Above-median income debtors filed a petition under chapter 13 of the Bankruptcy Code and proposed a plan for repaying their creditors which calculated their disposable income by deducting voluntary postpetition contributions they made to their 401(k) plans from their monthly income. The U.S. Bankruptcy Court for the District of Montana sustained the bankruptcy trustee's objection to confirmation of the debtors' plan, and the debtors appealed.
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
Korneff v. Downey Regl Med. Center-Hospital Inc. (In re Downey Regl Med. Center-Hospital Inc.)
Nov
16
2010
Ruling
Funds in deferred compensation plan were part of debtor hospital's unrestricted assets and were property of the estate.
Procedural posture
Appellant former employee sought review of an order from the United States Bankruptcy Court for the Central District of California, approving a stipulation between debtor hospital and an insurer regarding turnover of more than $1.6 million that the hospital had deposited with the insurer pursuant to a deferred compensation plan.
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
In re Gibson
Aug
31
2009
Ruling
Confirmation denied due to debtor's failure to provide form for issuance of wage deduction in event of default.
Procedural posture
The standing chapter 13 trustee objected to confirmation of debtors' amended plan based on three alleged obstacles: (1) the amended plan failed to provide that all of debtors' projected disposable income to be received during the applicable commitment period would be paid into the plan, (2) the amended plan was not filed in good faith, and (3) it was unclear whether, as proposed, the Trustee could administer the amended plan.
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Court
:
- 11 U.S.C.
In re Leahy
Jul
03
2007
Ruling
Contributions to retirement account which were less than 15% of income were excluded from the estate.
Procedural posture
Debtors, a husband and wife, filed a petition under chapter 7. The chapter 7 trustee filed an objection to the debtors'claim of exemptions, asserting that contributions the wife made to a retirement account within one year of the date the debtors filed their petition were assets of the estate under Vt. Stat. Ann. tit. 12, § 2470(16). The trustee sought an order requiring the wife to turn over that money.
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Court
: