Court Rulings

Schwab: Exempting 100% Interest in Asset

AyobamiOfficial Form 106Cs Schedule C: The Property You Claim as Exempt, effective December 1, 2015, permits debtors to remove assets from the estate unless the trustee objects and proves the property is worth more than “any applicable statutory limit.” Judge Marvin Isgur of the Southern District of Texas approved of the new form’s Schwab option …

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4TH CIRCUIT AFFIRMS REJECTION OF RIDE-THROUGH In re Jones 4th Cir. Jan 11 2010

4TH CIRCUIT AFFIRMS REJECTION OF RIDE-THROUGH In re Jones 4th Cir. Jan 11 2010 From: http://morganking.com/academyfolder/thisweekhotwire.htmL The chapter 7 debtor did not elect any of the options available for a purchase-money security interest in his car, to wit, redemption, reaffirmation, or surrender. The holder of the Purchase Money Security Interest (“PMSI”) (Daimler/Chrysler) repossesed the car. …

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Where Are Bankruptcy Cases Filed?

There are 94 federal judicial districts in this America, and in almost all districts, bankruptcy cases are filed in the bankruptcy court. Almost all districts of separately appointed federal judges that just handle bankruptcy filing and related matters. Bankruptcy cases cannot be filed in state court. Why are there separate federal bankruptcy courts? Mainly because …

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