- 11 U.S.C.
Malloy v. Morrison (In re Morrison)
Nov
16
2010
Ruling
Trust was not a valid spendthrift trust and was property of the estate where debtor beneficiary could obtain funds on demand.
Procedural posture
Chapter 7 trustee filed this adversary proceeding against defendant debtors claiming trust funds in a certain trust ("the Trust") as property of the estate. Debtors answered, claiming that the spendthrift provisions contained in the Trust removed the trust funds from the bankruptcy estate, thus placing them outside of the trustee's grasp.
ABI Membership is required to access the full summary of Malloy v. Morrison (In re Morrison) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: