A chapter 13 debtor’s post-petition contributions to his qualified retirement account may be deducted from the calculation of his projected disposable income and the amount of those contributions is presumed to be the average contribution made during the six months preceding bankruptcy. Where, as here, the debtor substantially increased his contributions on the eve of bankruptcy, he bears the burden of proving that his projected disposable income calculation should be reduced by the increased retirement account contributions. In re Huston, 2021 WL 4528883 (Bankr. N.D. Ill. Sept. 30, 2021) (case no. 20-81689). [Read more…] about Pre-Petition Increase in Retirement Account Contributions
Fraudulent Transfer Claim Precluded by Discharge Injunction
Because an action for fraudulent transfer is not merely a collection action, the creditors were precluded by the discharge injunction from pursuing their state court appeal of that action even though the predicate debt was found to be nondischargeable in the debtor’s bankruptcy. SuVicMon Dev. Inc. v. Morrison, No. 20-11681 (11th Cir. March 25, 2021). [Read more…] about Fraudulent Transfer Claim Precluded by Discharge Injunction
Scotus: Three Denials and a Pending
The Supreme Court recently denied cert petitions in three bankruptcy-related cases: Hull v. Rockwell, No. 20-499 (pet’n denied Feb. 22, 2021); GE Capital Retail Bank v. Belton, 20-481 (pet’n denied March 8, 2021); and Marino v. Ocwen Loan Servicing, No. 20-409 (pet’n denied March 22, 2021). [Read more…] about Scotus: Three Denials and a Pending
Smith v. SIPI, LLC, No. 15-1166 (7th Cir.)
Type: Amicus
Date: May 7, 2015
Description: Whether Chapter 13 debtors received reasonably equivalent value for property sold at a tax sale conducted in accordance with Illinois law, so that sale was not avoidable under 548(a)(1)(B) as a constructively fraudulent transfer.
Result: District court judgment reversed, bankruptcy court judgment affirmed, January 20, 2016.