The bankruptcy court overruled the chapter 7 trustee's objection to the debtor Catherine Myatt's claimed exemption in her interest in her former husband's 401(k) retirement account.
The Trustee sought to avoid two transfers, in the total amount of $30,000, made by the Debtor from his wholly owned corporation to Michael Campbell.
The only issue in the avoidance action was whether the Debtor received less than equivalent value for the transfers. The Trustee asserted these were gifts and the Debtor that they were loans. The Trustee brought a Motion for Summary Judgment.
The Cooks filed a Chapter 13 bankruptcy and, being above median income, were required to calculate their "projected disposable income" using Official Form 122C-2. As their plan provided for the retention of their home and cure and maintenance of the on-going mortgage, they deducted their monthly mortgage payment of $2,233.34 from the Means Test, despite the IRS Local Standard for mortgage expenses being only $1,098.00.
Christopher Gifford and Shana Gifford owned real property as tenants by the entireties. On April 1, 2019, they separated and Christopher filed a complaint for Equitable Distribution. While that was still pending, on August 7, 2020, Christopher filed a Chapter 7, claiming the real property as exempt as tenancy by the entireties.
The bankruptcy court allowed Y2 Yoga to file a claim for post-petition attorneys fees pursuant to N.C.G.S. § 6-21.6(f). When that amount exceed the judgment amount upon which the claim was based, VR King objected that such was prohibted as the award of reasonable attorney’s fees may not exceed the amount in controversy.
Prior to filing bankruptcy, Ms. Butler filed a charge with the EEOC alleging that she was subjected to sexual harassment and then wrongfully terminated by Home Depot. A settlement was reached with required Home Depot to pay the total sum of $15,000 to Ms. Butler, with $7,500 of such funds directed “as payment for claims for lost wages” and the remaining $7,500 devoted “as payment for ... non-wage claims (including claims of emotional distress).”
Two months prior to the filing of bankruptcy by Ms. Corbell-Dockins and her husband, Kirk Morishita died leaving Corbell-Dockins the beneficiary of his 401k, which was rolled over into a 401k account in her name.
