Thursday, November 29, 2012

Bankruptcy Law, The Law of Debtors and Creditors Problem Set Answers, Warren Westbrook Sixth Edition - Problem Set 17

    Problem Set 17
    • 17.4
    • §109(e) the dollar ceiling of Ch 13.
    • §1325(a)(3) good faith and (b) disposable income test.
    • §1328(a): Not dischargeable for personal injury.
    • Whether the dividends of $275K from a spendthrift trust are the property of the estate.
    • No matter whether the dividends are property of the estate or not, he has a very high income, so if he files for bankruptcy in Ch. 7 or 13, the court may question whether he is in good faith.
    • Even if he can file such a plan, the dividends are the disposable income, right? So he should commit the disposable income to the creditors.
    • Notably, the debt for the personal injury is not dischargeable, so Frank cannot escape the liability.
    • My advice is to file a petition as negotiation leverage and comprise with the creditors.

    • Loose the limitation on the access to the Ch. 13?
    • How about the disposal income?
    Problem Sets: Table of Contents

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