- 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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Kapusta v. Rafool (In re Kapusta)
Jun
02
2011
Ruling
State statute properly held not to create an exemption for debtor's bonus.
Procedural posture
Appellant Chapter 7 debtor challenged an order of the United States Bankruptcy Court for the Central District of Illinois, which sustained appellee trustee's objection and found that a bonus was not exempt under the Illinois Wage Deduction Act (IWDA), 75 ILCS 5/12-803.
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Court
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In re Cutignola
May
18
2011
Ruling
Debtor could claim homestead exemption in property obtained postpetition upon death of debtor spouse.
Procedural posture
The chapter 7 trustee sought turnover of an individual retirement account (IRA) and homestead exemption, which were owned by the deceased debtor, on the grounds that they passed to the bankruptcy estate upon her death post-petition. The debtor, the decedent's spouse, opposed the motion, arguing that the assets retained their exempt status, having passed to him as the beneficiary of his spouse's will.
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Court
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- 11 U.S.C.
In re Clark
May
10
2011
Ruling
Debtors not entitled to exemption in inherited IRA account.
Procedural posture
Chapter 7 debtors, a husband and wife, claimed an inherited IRA as exempt under Wis. Stat. § 815.18(3)(j) and 11 U.S.C.S. § 522(b)(3)(C). The trustee and judgment creditors objected to that claim.
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Court
:
- 11 U.S.C.
In re Bradby
Apr
11
2011
Ruling
Subsequent death of debtor's co-owner of property by the entireties did not change ownership status as of petition date or affect exemption.
Procedural posture
Chapter 13 trustee objected to an exemption claimed by the debtor.
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Court
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- 11 U.S.C.
In re Welton
Mar
31
2011
Ruling
Florida homestead exemption disallowed where debtor's domicile had not been located in Florida for 730 days prior to petition date or 180 days before that.
Procedural posture
This case came before the court for a final evidentiary hearing to consider a creditor's Objection to the exemptions claimed by debtors in their chapter 7 case. The exemptions were claimed pursuant to the Florida Constitution and Fla. Stat. § 222.
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Court
:
- 11 U.S.C.
In re Schott
Mar
15
2011
Ruling
Objection to homestead exemptions sustained as to one noncontiguous parcel but overruled as to the second,
Procedural posture
Creditors objected to the debtor's claim of homestead exemption, sought pursuant to 11 U.S.C.S. § 522(b)(3)(A).
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Court
:
- 11 U.S.C.
In re Basler
Mar
10
2011
Ruling
Debtors could claim homestead exemption in property occupied pursuant to long-term lease.
Procedural posture
Debtors claimed a homestead exemption in their residence, presumably under the statutory authority of Neb. Rev. Stat. § 40-101. The question was whether debtors, despite not holding legal title to the real estate, nevertheless had an exemptible interest in it. It was undisputed that debtors exclusively occupied the residence, and had since August 2004. There was no evidence of a lease of the property from debtors' company to debtors, but it was clear that debtors were residing there with the tacit agreement of the company, which essentially was debtors themselves. Whatever legal arrangement this may have constituted, it appeared to be something more than a tenancy at will, which was insufficient to support a homestead claim. Rather, it was in the nature of a long-term lease, on which debtors could claim a homestead exemption. Debtors also claimed an exemption in life insurance under Neb. Rev. Stat. § 44-371. Contrary to debtors' position, the statute was clear on its face that only the policy owner could claim the exemption. Pursuant to Neb. Rev. Stat. § 44-371(1)(b)(i), debtor husband could claim an exemption of no more than $100,000 in the unencumbered value of the policy.
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Court
:
- 11 U.S.C.
Richardson v. Schafer (In re Schafer)
Feb
24
2011
Ruling
State exemption statute applying only to debtors in bankruptcy was unconstitutional under the bankruptcy clause.
Procedural posture
In consolidated appeals, chapter 7 trustees, challenged the U.S. Bankruptcy Court for the Western District of Michigan's orders denying the trustees' motions objecting to appellee debtors' claim of exemptions under 11 U.S.C.S. § 522. The bankruptcy court held that Michigan's bankruptcy-specific exemption statute, Mich. Comp. Laws § 600.5451, was constitutional under the Supremacy Clause of the U.S. Constitution, art. VI, cl.2.
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Court
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Judge or Jurisdiction information not available
- 11 U.S.C.
Camp v. Ingalls (In re Camp)
Jan
21
2011
Ruling
District court properly reversed bankruptcy court's decision extending Florida opt-out statute to exemptions of debtor who was not a Florida resident on petition date.
Procedural posture
Appellant, a Chapter 7 Trustee, appealed from the judgment of the United States District Court for the Western District of Texas, reversing the bankruptcy court's order sustaining his objection to the federal exemptions claimed by appellee debtor.
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Court
:
Judge or Jurisdiction information not available