§ 541(b)(7)

Lehman Bros., In re--Lehman Bros. v. Giddens

Ruling: 
Contributions to “top hat” deferred compensation plan were not excluded from debtor’s bankruptcy estate. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on June 15,2020, LexisNexis #0720-091

Garza, In re

Ruling: 
Debtors were allowed to exclude monthly contributions the husband made to his 401(k) planwhen they determined their disposable income. (Bankr. S.D. Tex.)
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Consumer case opionion summary, case decided on August 15,2017, LexisNexis #0917-076

In re Cantu

Ruling: 
Debtor could make voluntary contributions to retirement account and deduct the payments from disposable income.
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Consumer case opionion summary, case decided on July 14,2016, LexisNexis #0816-050

Parks v. Drummond (In re Drummond)

Above-median income debtors filed a petition under chapter 13 of the Bankruptcy Code and proposed a plan for repaying their creditors which calculated their disposable income by deducting voluntary postpetition contributions they made to their 401(k) plans from their monthly income. The U.S. Bankruptcy Court for the District of Montana sustained the bankruptcy trustee's objection to confirmation of the debtors' plan, and the debtors appealed.
Ruling: 
Bankruptcy court properly sustained trustee's objection to confirmation based on improper deductions for voluntary postpetition 401(k) contributions.
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Consumer case opionion summary, case decided on August 06,2012, LexisNexis #0912-054

Korneff v. Downey Regl Med. Center-Hospital Inc. (In re Downey Regl Med. Center-Hospital Inc.)

Appellant former employee sought review of an order from the United States Bankruptcy Court for the Central District of California, approving a stipulation between debtor hospital and an insurer regarding turnover of more than $1.6 million that the hospital had deposited with the insurer pursuant to a deferred compensation plan.
Ruling: 
Funds in deferred compensation plan were part of debtor hospital's unrestricted assets and were property of the estate.
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Commercial case opionion summary, case decided on November 16,2010, LexisNexis #0111-056

In re Gibson

The standing chapter 13 trustee objected to confirmation of debtors' amended plan based on three alleged obstacles: (1) the amended plan failed to provide that all of debtors' projected disposable income to be received during the applicable commitment period would be paid into the plan, (2) the amended plan was not filed in good faith, and (3) it was unclear whether, as proposed, the Trustee could administer the amended plan.
Ruling: 
Confirmation denied due to debtor's failure to provide form for issuance of wage deduction in event of default.
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Consumer case opionion summary, case decided on August 31,2009, LexisNexis #1009-018

In re Leahy

Debtors, a husband and wife, filed a petition under chapter 7. The chapter 7 trustee filed an objection to the debtors'claim of exemptions, asserting that contributions the wife made to a retirement account within one year of the date the debtors filed their petition were assets of the estate under Vt. Stat. Ann. tit. 12, § 2470(16). The trustee sought an order requiring the wife to turn over that money.
Ruling: 
Contributions to retirement account which were less than 15% of income were excluded from the estate.
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