Factual considerations supported consolidation of separated spouses’ Chapter 7 cases where the husband claimed federal exemptions and the wife claimed state exemptions. Boellner v. Dowden (In re Boellner), No. 14-2816 (8th Cir. May 12, 2015). [Read more…] about Separated Spouses Chapter 7 Cases Consolidated
Law v. Siegel (In re Law), No. 12-5196 (SCt)
Type: Amicus
Date: September 3, 2013
Description: Whether trustee has the power to impose a special charge on the debtor by taking away homestead exemption for failing to comply with the trustee’s demands for information during discovery.
Result: Debtor won, 571 U.S. ___ (March 4, 2014)
Lump Sum Rollover from IRA to Annuity Not “Premium”
The Eighth Circuit found that the debtor’s retirement annuity funded by a lump sum rollover contribution from his IRA was properly exempted from his Chapter 7 bankruptcy estate. Running v. Miller (In re Miller), No. 13-3682 (8th Cir. Feb. 13, 2015). [Read more…] about Lump Sum Rollover from IRA to Annuity Not “Premium”
Running v. Miller (In re Miller), No. 13-3682 (8th Cir.)
Type: Amicus
Date: March 27, 2014
Description: Whether Individual Retirement Annuity created by lump sum rollover contribution from exempt Individual Retirement Account is exempt under section 522(b)(3)(C).
Result: Judgment affirmed, debtor won. February 13, 2015
Miller 8th Cir NACBA amicus
Miller 8th Cir Opinion
Lump Sum Workers’ Compensation Settlement Exempt under 522(d)(11)
Contrary to the majority opinion, proceeds of a lump sum workers’ compensation settlement were found to be exemptible under section 522(d)(11)(E), to the extent necessary for support of the debtor and his dependents. In addition, a Medicare “set aside” is not property of the estate. Carr v. Arellano (In re Arellano), No. 14-990 (Bankr. M.D. Pa. Jan. 5, 2015). [Read more…] about Lump Sum Workers’ Compensation Settlement Exempt under 522(d)(11)
Denial of Motion to Reopen to Amend Exemption Was Abuse of Discretion
The bankruptcy court abused its discretion when it refused to reopen the debtor’s Chapter 7 case to permit him to amend his schedules to claim his homestead exemption and seek avoidance of judicial liens. Ludvigsen v. Osborne (In re Ludvigsen), No. 14-39 (B.A.P. 1st Cir. January 16, 2015). [Read more…] about Denial of Motion to Reopen to Amend Exemption Was Abuse of Discretion
Sixth Circuit Reverses Denial of Amendment to Exemptions
The Sixth Circuit found that prejudice to creditors was unlikely to be a legitimate basis for denying a debtor’s motion to amend her schedules to increase her exemption claim and that even if it were a legitimate basis, the trustee failed to show the existence of such prejudice. Westry v. Lim (In re Westry), No. 14-1440 (6th Cir. Dec. 30, 2014). [Read more…] about Sixth Circuit Reverses Denial of Amendment to Exemptions
Homestead Exemption May Not Be Denied Based on Bad Faith, but . . .
Absent a statutory basis for doing so, a bankruptcy court may not deny a debtor’s homestead exemption based on bad faith or prejudice to creditors. Elliott v. Weil (In re Elliott), No. 14-1050, 14-1059 (consolidated) (B.A.P. 9th Cir. Dec. 10, 2014). [Read more…] about Homestead Exemption May Not Be Denied Based on Bad Faith, but . . .
Clark v. Rameker, No. 13-299 (USSCt.)
Type: Amicus
Date: January 17, 2014
Description: Inherited IRA exemption
Result: Judgment Affirmed July 14, 2014
Supreme Court to Decide Inherited IRA Exemption Issue
In other Supreme Court news, the Court granted certiorari in the case of Clark v. Rameker (In re Clark), No. 13-299. In that case, the Seventh Circuit created a split in the circuits when it held that a debtor may not exempt her inherited IRA in bankruptcy. In re Clark, No. 12-1241 & 12-1255 (April 23, 2013). The Fifth Circuit had reached the opposite conclusion in Chilton v. Moser, 674 F.3d 486 (5th Cir. 2012). NCBRC will file an amicus brief on behalf of the NACBA membership in this important case.