A single-premium fixed annuity purchased with inherited funds may qualify for a bankruptcy exemption under state law, the Georgia Supreme Court has ruled.
WASHINGTON – In a continuation of the downward trend that began in 2011, bankruptcy filings in federal courts declined during calendar year 2012, according to data released by the Administrative Office of the U.S. Courts.
A divorced man’s obligation to pay off a marital debt in the form of a line of credit was not discharged in his bankruptcy case, the Missouri Court of Appeals has ruled in reversing judgment.
WASHINGTON – A new rule proposed by the U.S. Department of Labor would make it easier for trustees of companies in Chapter 7 bankruptcy to distribute assets from its retirement plans.
Published: December 17, 2012
Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, Chapter 7, means test
Chapter 7 debtors could have their case dismissed based on a finding that they “abused” the process by attempting to retain certain luxury items they could have sold to help satisfy their debts, the 11th Circuit has ruled in affirming judgment.
Published: December 11, 2012
Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, Chapter 7, taxation
A divorced woman’s obligation to pay 50 percent of her ex-husband’s federal income taxes was not discharged in her Chapter 7 case, the New Hampshire Supreme Court has ruled in reversing judgment.
A bankruptcy judge lacked the constitutional authority to enter a final judgment in a fraudulent conveyance action against a nonclaimant to a bankruptcy estate, the 9th Circuit has ruled.
A bankruptcy trustee was required to return funds acquired post-petition upon the conversion of the debtor’s plan from Chapter 13 to Chapter 7, the 3rd Circuit has ruled in affirming judgment.
A wife’s transfer of her share of the marital residence in her divorce case was properly set aside as a fraudulent transfer when she subsequently filed for bankruptcy, the 6th Circuit Bankruptcy Appellate Panel has ruled in affirming judgment.
Chapter 7 debtors could claim homestead exemptions under a state law that is bankruptcy-specific, the 6th Circuit has ruled.