Statement of Profitability Must Be in Writing to Underpin a Nondischargeability Claim
A statement about the profitability of a corporation the debtor owns is a statement about the debtor’s own financial condition, the Fifth Circuit says.
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Bankruptcy Code
A Nonprimary Residence May Nonetheless Qualify for a Federal Exemption
A debtor may have a valid ‘homestead’ exemption without residing in the property, so long as a dependent does reside there, the Second Circuit rules.
The Mailbox Presumption Won’t Deem a Claim to Have Been Timely Filed
Courts are split on the extent to which an affidavit of timely mailing will suffice to prove that a claim was filed.
A Payment to a Death Beneficiary Under an IRA Is Not Estate Property
Even though received within 180 days of filing, a distribution from an IRA to a death beneficiary does not become estate property.