In yet another blow to the finality of exemptions, the Fifth Circuit has ruled that a chapter 7 debtor who claimed an IRA as exempt but later withdrew the proceeds must pay the funds to the trustee. Engelhart v. Hawk (Matter of Hawk) , No. 16-20641 (5th ... Read full article
Overruling a bankruptcy court decision, a District Judge in the Western District of Texas has ruled that proceeds from sale of a homestead can be recovered if not timely reinvested in a Chapter 7 case. The Court ruled that the Frost decision applied ... Read full article
The rift in the bankruptcy universe created by Viegelahn v. Frost (Matter of Frost) , 744 F.3d 384 (5th Cir. 2014) continues to widen, drawing more exemptions into its vortex in seeming disregard of Supreme Court precedent. The latest opinion to come ... Read full article
Texas bankruptcy judge Jeff Bohm has ruled that a chapter 7 debtor who sold his homestead over a year after filing bankruptcy could not keep the portion of the proceeds when he failed to reinvest them within six months. In re Smith , 2014 Bankr. LEXIS ... Read full article
