WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Dec. 3 asked the U.S. solicitor
general to provide perspective on whether a bankruptcy court has the power to
levy a financial charge against a Chapter 7 debtor's residential property,...
Expanding upon its decision in Matter of Zibman , 268 F.3d 298 (5th Cir. 2001) [ an enhanced version of this opinion is available to lexis.com subscribers ], the Fifth Circuit has ruled that the proceeds from sale of a Texas homestead lose their exempt...
Professor Kenneth Klee analyzes the March 4, 2014 Supreme Court ruling in Law v. Siegel which held that a bankruptcy court exceeds its authority when it permits a surcharge on a debtor's otherwise exempt assets to pay administrative expenses incurred...
This has not been a good year for Texas homesteads involved in bankruptcy proceedings. In April, the Fifth Circuit ruled (after nearly two years under advisement) that the non-filing spouse does not have a separate homestead estate entitled to protection...
WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on
June 17 granted certiorari in a case involving the question of whether a
bankruptcy court has the power to levy a financial charge against a Chapter 7
debtor's residential property, which...
Some of the recent decisions on Texas homesteads coming out of the courts have people wondering just what John Wayne fought and died for at the Alamo. The sanctity of the homestead along with the prohibition against garnishment of wages are two of the...
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...
The Fifth Circuit's recent decision in Camp v. Ingalls
allowed an itinerant debtor to claim federal exemptions that would not have
been available to him had he remained in Florida. That was a small victory for
the debtor. However, a decision released...
It's been a slow month in the Fifth Circuit, my home Circuit, with just two bankruptcy-related opinions. This month's cases involve a non-filing spouse who lost her homestead interest and a bank which provided "reasonably equivalent"...
After sorting through conflicting precedents, Judge Craig Gargotta has ruled that a chapter 7 debtor who owned a homestead property on the date of bankruptcy and claimed the property as exempt did not lose the exemption when the property was sold and...
The plight of the non-filing spouse who stands to lose an
interest in the homestead is a trap that is easy to overlook. Under 11 U.S.C. Sec.
541(a)(2), when one spouse files bankruptcy, all joint management community
property enters the bankruptcy...
In 2000, Natalie Portman starred in "Where the Heart
Is," a movie about a pregnant 17 year old girl who makes her home in a
Walmart. Judge Stacey Jernigan recently had to decide a quite different case
about home and the heart. The case involved...
In an unusual move, the Supreme Court granted cert
yesterday to consider the petition of a California man who filed a pro se
petition for cert seeking to review the decision of a bankruptcy court to
surcharge his homestead exemption under section...