Annuity bought with inherited funds may be exempt in bankruptcy 
Published: February 26, 2013
Tags: annuity, Chapter 7
A single-premium fixed annuity purchased with inherited funds may qualify for a bankruptcy exemption under state law, the Georgia Supreme Court has ruled.
Bankruptcy filings continue to decline
By:
Kimberly Atkins
Published: February 7, 2013
Tags: Administrative Office of the U.S. Courts, bankruptcy filings, Chapter 11, Chapter 12, CHAPTER 13, Chapter 7
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.
Divorce obligation can’t be discharged in bankruptcy
Published: January 2, 2013
Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, Bankruptcy Code, BAPCPA, Chapter 7, divorce, U.S. Bank
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.
Rule would speed retirement payments from bankrupt firms
By:
Kimberly Atkins
Published: December 20, 2012
Tags: 401(k), Chapter 7, Department of Labor, Employee Benefits Security Administration, retirement planning
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.
Chapter 7 case dismissed for ‘abuse’
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.
Divorce obligation wasn’t discharged in bankruptcy
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.
Bankruptcy judge lacked power to remedy fraud
Published: December 6, 2012
Tags: Chapter 7, fraud, fraudulent conveyance
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.
Bankruptcy trustee must return funds upon conversion
Published: November 8, 2012
Tags: CHAPTER 13, Chapter 7
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.
Wife’s transfer in divorce avoidable in bankruptcy
Published: October 2, 2012
Tags: Chapter 7, divorce, fraudulent transfer
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.
State can authorize bankruptcy-specific exemptions
Published: August 22, 2012
Tags: Bankruptcy Clause, Chapter 7, homestead exemption
Chapter 7 debtors could claim homestead exemptions under a state law that is bankruptcy-specific, the 6th Circuit has ruled.
