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Bankr. E.D.N.C.: In re Dickerson- Settlement of Civil Lawsuit by Trustee

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By Ed Boltz, 18 April, 2012
Summary: Dickerson filed Chapter 7 pro se, initially failing to disclose and exempt a pending lawsuit against Bell Partners for personal injuries and pecuniary losses.  The Debtor eventually claimed the lawsuit as fully exempt, but the Trustee objected to the exemption of an pecuniary losses Dickerson, the Trustee and Bell Partners subsequently agreed, both on the telephone and in emails, to settle the lawsuit for $15,000, consisting of $10,000 in exempt personal injury proceeds and $5,000 for pecuniary losses, that would be available for the bankruptcy estate.  Dickerson then withdrew her consent to this settlement, partly on the basis of her own alleged mental incompetency. The bankruptcy court ultimately upheld this settlement, finding first that Dickerson was, despite her protestations, competent to enter into the settlement.  Dickerson fully assented to the Settlement and a binding and enforceable contract was created, despite her later change of heart. Commentary: While it was undisputed by the Trustee that Dickerson was entitled to exempt any proceeds from the lawsuit against Bell Partners that were attributable to personal injury claims, the Trustee nonetheless contended that he was entitled to the proceeds related to pecuniary losses. Dickerson, in her most recent amendment to her Schedule C, did not, however, claim any assets under her Wild Card exemption.  This leaves her with a full $5,000 available, coincidentally the exact amount of the pecuniary settlement.  It would seem to make sense for Dickerson to again amend her exemptions to claim this amount, especially as no distribution has yet been made. For a copy of the opinion, please see: Dickerson- Settlement of Civil Lawsuit by Trustee.PDF

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