5th Circuit Affirms: Debtor's Homestead Exemption Was Attempt To Defraud Creditors

5th Circuit Affirms: Debtor's Homestead Exemption Was Attempt To Defraud Creditors

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on Oct. 14 affirmed a bankruptcy court's ruling that a debtor acted with intent to defraud his creditors when he claimed an unlimited homestead exemption on a property he owned in Texas when it was purchased with money borrowed against a property he owned in Missouri that has a limit on the amount a debtor can claim with a homestead exemption (Thomas A. Cipolla v. Daniel Roberts $(In Re: Thomas A. Cipolla$), No. 13-50133, Chapter 7, 5th Cir.; 2013 U.S. App. LEXIS 20751).

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