The Unlimited Wedding Ring Exemption Has Some Limits, Illinois Judge Says
Opinion traces the thousand-year history of wedding and engagement rings.
Debtor Can’t Reaffirm an Auto Loan by Waiving Discharge of the Debt
Chief Judge Gorman requires strict adherence to Section 524(c) in reaffirming a debt.
Notre Dame Football Tickets Are Not Exempt Property, South Bend Judge Holds
Notre Dame football tickets are not necessary for a fresh start.
Seventh Circuit Opines on Method for Calculating ‘New Value’ Defense
Average daily sales suffice to show the date when new value was advanced.
Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer
Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.
Chapter 13 Debtor Held to Lack Standing to Prosecute a Claim on an Exempt Asset
Judge fails to distinguish between cases in chapter 7 and chapter 13.
Chapter 13 Debtors May Prorate Tax Refunds in Calculating Plan Payments
Chapter 13 trustees aren’t always entitled to a turnover of tax refunds.
For Insufficient Notice, a Recorded Right of First Refusal Survived a Sale
Constructive notice deprived a purchaser of ‘bona fide’ status.
Action by Three Courts Required to Settle an Appeal in the Circuit Court
Bankruptcy court approval isn’t enough to settle an appeal in the circuit court.
Veterans’ Benefits Are Included in Calculating ‘Disposable Income’ in Chapter 13
Congress must address unfairness to veterans, Judge Susan Kelley says.