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§ 522(b)(4)

Xiao, In re--Chorches v. Xiao

Ruling: 
Trustee's objection sustained where there was no presumption that the plan was exempt anddebtor was materially responsible for the plan's substantial compliance failure. (Bankr. D.Conn.)
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Consumer case opionion summary, case decided on August 22,2018, LexisNexis #1018-011

Xiao, In re--Chorches v. Xiao

Ruling: 
Trustee's objection sustained where there was no presumption that the plan was exempt anddebtor was materially responsible for the plan's substantial compliance failure. (Bankr. D.Conn.)
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Consumer case opionion summary, case decided on August 22,2018, LexisNexis #1018-011

Chaudury, In re

Ruling: 
Court deemed that the overriding requirement of the rollover rule was simply that therollover occur within the specified time period. (Bankr. M.D. Tenn.)
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Consumer case opionion summary, case decided on February 01,2018, LexisNexis #0318-038

In re Gilbraith

Ruling: 
Plan was qualified on petition date and in substantial compliance with the Internal Revenue Code so as to be presumed exempt.
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Consumer case opionion summary, case decided on December 24,2014, LexisNexis #0115-081

Daley v. Mostoller (In re Daley)

The United States District Court for the Eastern District of Tennessee at Knoxville granted judgment in favor of appellee bankruptcy trustee by finding that appellant debtor had impermissibly used the individual retirement account (IRA) to extend himself credit by granting the securities firm a lien on the retirement funds to cover any potential future debts to the firm. The debtor appealed.
Ruling: 
IRA should have been presumed exempt absent evidence that debtor used the account to obtain credit.
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Consumer case opionion summary, case decided on June 17,2013, LexisNexis #0713-043

Agin v. Daniels (In re Daniels)

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.
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.
ABI Membership is required to access the full summary of Agin v. Daniels (In re Daniels). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on June 16,2011, LexisNexis #0711-114
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