9th Circ. Rejects Textualist Approach To Bankruptcy Code

By Steve Werth (May 30, 2018, 1:43 PM EDT) -- In a May 7, 2018, decision in Lee v. Field (In re Lee),[1] the U.S. Court of Appeals for the Ninth Circuit eliminated what otherwise would be a trap for the unwary trustee or creditor who commences litigation to eliminate the basis for a debtor to assert an exemption in property: the risk that such litigation will be mooted because the party failed to satisfy Federal Rule of Bankruptcy Procedure 4003(b)(1). Rule 4003(b)(1) states that a party in interest must object to a claimed exemption in property within 30 days of the debtor's meeting of creditors. The Ninth Circuit, in Lee,...

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