Unlike Clark v. Rameker, where an inherited IRA wasn’t exempt, the inheritance of benefits under a pension plan might not become estate property under Section 541(c)(2).
The first court of appeals to rule on a question where lower courts are split, the Tenth Circuit finds the statute unambiguous and requires a chapter 13 trustee to disgorge his or her fee if the case is dismissed before confirmation.
Judge David Thuma explains why a chapter 11 debtor in possession and a subsequent liquidating trust are different clients for the purpose of a conflict analysis, at least when the committee has confirmed a liquidating plan.
Being registered, plus having directors and an address, on the Isle of Man wasn’t sufficient to show COMI or an ‘establishment’ justifying recognition under chapter 15.