Non-compliant plan may be exempt in bankruptcy 
Published: December 28, 2011
Tags: Chapter 7, Internal Revenue Code, Keough retirement plan, retirement plan, taxation
A retirement plan that was not technically “tax qualified” under federal law may still be exempt from the taxpayer’s bankruptcy estate, the Utah Supreme Court has ruled in answering a certified question from a U.S. District Court.
Assignee can set aside bankruptcy stay
Published: December 7, 2011
Tags: automatic stay, Chapter 7
The assignee of a security interest in a motor vehicle had standing to set aside the automatic stay in the borrower’s bankruptcy case, even though the assignment hadn’t been recorded in accordance with applicable state law, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
Bankruptcy order on abuse issue can be appealed
Published: December 2, 2011
Tags: CHAPTER 13, Chapter 7
An order denying a U.S. Trustee’s motion to dismiss a debtor’s Chapter 7 bankruptcy case as abusive is a final appealable order, the 4th Circuit has ruled in reversing a denial of a motion to appeal.
Chapter 7 debtors could avoid liens to stop foreclosure
Published: November 18, 2011
Tags: automatic stay, Chapter 7, foreclosure
Chapter 7 debtors could avoid judicial liens on their homestead property in order to prevent a bank from continuing foreclosure proceedings, the 8th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
Bankruptcy stay doesn’t block attorney’s suspension
Published: August 30, 2011
Tags: arbitration, automatic stay, Chapter 7
The automatic stay in an attorney’s bankruptcy case does not preclude the imposition of a suspension for failing to pay fee arbitration awards to clients, the New Jersey Supreme Court has ruled.
Law firm needn’t disgorge bankruptcy retainer
Published: July 20, 2011
Tags: administrative expenses, Chapter 11, Chapter 7, disgorgement
A law firm couldn’t be ordered to disgorge its retainer for the purpose of paying the administrative expenses in its client’s bankruptcy case, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
Car can be repossessed from debtor after bankruptcy
Published: July 20, 2011
Tags: Chapter 7, repossession
A creditor could enforce an ipso facto clause in a retail installment contract and repossess a vehicle after the debtor failed to reaffirm the debt in her bankruptcy case, Maryland’s highest court has ruled in answering a certified question from a U.S. Bankruptcy Court.
Moving debtors can claim homestead exemption
Published: June 22, 2011
Tags: Chapter 7, homestead exemption
Debtors could claim a homestead exemption in their bankruptcy case — even though they planned to move from their home, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
Poverty guidelines posted for waiver of bankruptcy fees
Published: May 19, 2011
Tags: Administrative Office of the U.S. Courts, Bankruptcy Abuse Prevention and Consumer Protection Act, Bankruptcy Code, BAPCPA, CHAPTER 13, Chapter 7, filing fees, Poverty Guidelines
The office overseeing the federal judiciary has posted new poverty guidelines for the waiver of filing fees in certain bankruptcy cases.
Bankruptcy triggers auto lender’s default rights
Published: May 11, 2011
Tags: Chapter 7, repossession, Uniform Commercial Code
A debtor’s filing for bankruptcy resulted in a sufficient impairment of collateral to trigger an auto lender’s contractual right to repossession, the Kansas Supreme Court has ruled in affirming judgment.
SUBSCRIBERS: Did you receive the new Lawyers USA Weekly Update in your inbox on Monday?
If not, click here to register and learn more now.
