In re Cormier

The debtors filed an objection to the completed sale by auction of their shareholder interest in a company that paid mineral royalties. The debtors had been the high bidders, at $47,000, for the stock, and had claimed a joint exemption for the stock in the amount of $ 14,150, pursuant to 11 U.S.C.S. § 522(d)(5). The debtors asserted the entire value of the stock should be exempt under the appellate panel decision in Olson v. Anderson.