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exemption

By Ed Boltz, 13 December, 2021

Bankr. M.D.N.C.: In re Butler- Lost Wages from Sexual Harassment Claim Not Exempt

Summary:

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).”

By Ed Boltz, 12 December, 2021

Law Review: Simon, Lindsey, The Settlement Trap (March 16, 2021). Indiana Law Journal, Forthcoming, University of Georgia School of Law Legal Studies Research Paper No. 2021-16

Abstract:

By Ed Boltz, 3 December, 2021

Bankr. W.D.N.C.: In re Corbell-Dockins- 401k Is Not an Asset of the Bankruptcy Estate

Summary:

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.

By Ed Boltz, 13 April, 2021

N.C. Ct. of App.: Pangea Capital v. Lakian- Property Must be Residence for Homestead Exemption

Summary:

By Ed Boltz, 23 February, 2021

Bankr. E.D.N.C.: Harden v. Harrison- Re-Designation of Beneficiary of Whole Life Insurance was not a Transfer

Summary:

On September 23, 2019, Mouzon Bass, the president of Ebenconcepts, Inc., which was the Debtor's former employer, assigned to the Debtor a whole life insurance policy with a cash value of $814,917.00 in consideration for the Debtor's shares in Ebenconcepts. At that time, Ebenconcepts was the beneficiary of the whole life insurance policy.

By Ed Boltz, 6 February, 2021

Law Review- Drumbl, Michelle Lyon, Bankruptcy, Taxes, and the Primacy of IRS Refund Offsets: Copley v. United States (January 2021). South Carolina Law Review, Forthcoming

Abstract:

Copley v. United States involved a question at the intersection of tax law and bankruptcy law: can a debtor invoke bankruptcy exemption rules to shield an anticipated income tax refund from offset by the Internal Revenue Service? When the Fourth Circuit Court of Appeals was presented with this question of first impression — a question that has divided bankruptcy courts in recent years — it held that the IRS right of offset prevails over the debtors’ right of exemption.

By Ed Boltz, 23 November, 2020

Commingled Funds and Bankruptcy

There are several protections in bankruptcy, particularly in North Carolina, that allow people to keep their entire settlement from various legal and administrative proceedings. This includes all Social Security benefits, Worker's Compensation, and Personal Injury awards, regardless of the amount. This is because such amounts are meant to help provide for the injured or disabled person for the future and not for their past creditors.

By Ed Boltz, 6 August, 2019

Bankr. E.D.N.C: In re Suggs- Ex-Spouse as Dependent for Homestead Exemption

Summary:

By Ed Boltz, 11 September, 2017

Bankr. W.D.N.C.: In re Mergentime- Transferred Social Security Benefits

Summary: Ms. Mergentime received $62,417.80 as a lump sum payment for retroactive Social Security benefits, approximately 4 months after filing her Chapter 7 bankruptcy. She had not disclosed those potential funds in her petition. Pursuant to her equitable distribution agreement, she paid half of those funds to her ex-husband. The Trustee sought to recovery those transferred funds and to deny Ms.
By Ed Boltz, 8 September, 2017

4th Circuit: Jones v. College of Southern Maryland- Only Chapter 7 Trustee Has Standing in Non-exempt Personal Injury Case

Summary: Ms. Jones brought suit against the College of Southern Maryland under the Family and Medical Leave Act and subsequently filed a Chapter 7 bankruptcy petition, eventually listing the lawsuit as an asset in her schedules. The Trustee then settled the lawsuit with the College of Southern Maryland for $75,000, with $25,000 to the attorney, as she was the only party having standing to pursue the claim. Ms.

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