- 11 U.S.C.
Agin v. Daniels (In re Daniels)
Jun
16
2011
Ruling
Debtor could not claim exemption in funds in profit sharing plan, due to prohibited transactions, or in IRA that was funded by the plan.
Procedural posture
Plaintiff Chapter 7 trustee filed a motion for summary judgment in his action against defendant debtor, which sought a turnover of the debtor's interest in funds in a profit sharing plan and two Individual Retirement Accounts (IRAs), claiming that they could not be exempted from the bankruptcy estate pursuant to 11 U.S.C.S. § 522(b)(4). The debtor filed a cross-motion for summary judgment. The trustee moved to strike the debtor's cross-motion.
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Court
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