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Schwab v. Reilly

Petitioner chapter 7 trustee moved to auction respondent debtor's business equipment, in which the debtor had claimed exemptions under 11 U.S.C.S. § 522(d)(5) and (6). The bankruptcy court denied the motion. A district court denied the trustee's request for relief, and the United States Court of Appeals for the Third Circuit affirmed. Certiorari was granted.
Ruling: 
Chapter 7 trustee was not required to object to debtor chef's claimed exemptions in business equipment, valued in allowed range, in order to preserve the estate's right to retain any value in the equipment beyond the value of the exempt interest.
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Commercial case opionion summary, case decided on June 17,2010, LexisNexis #0610-117

Milavetz Gallop & Milavetz P.A. v. United States

Petitioner attorneys brought actions against respondent United States seeking a declaration that the attorneys were not subject to the bankruptcy statutes relating to debt relief agencies. Upon the grant of a writ of certiorari, the attorneys and the government cross-appealed the judgment of the U.S. Court of Appeals for the Eighth Circuit which held that the provisions applied to the attorneys but a limitation on advice was unconstitutional.
Ruling: 
Law firms are "debt relief agencies" under BAPCPA and may not advise debtors to incur additional debt in contemplation of filing for bankruptcy.
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Commercial case opionion summary, case decided on March 08,2010, LexisNexis #0310-090