8th Circ. Upholds Overrule Of Trustee For Bankrupt Lawyer

Law360 (November 27, 2019, 2:03 PM EST) -- The Eighth Circuit has found a claim of bad faith is not sufficient to deny a bankruptcy attorney an asset exemption on $30,000 in cash he had not disclosed in his initial Chapter 7 schedules.

In a ruling issued Tuesday the panel said because “bad faith” is not among the reasons the Bankruptcy Code lists for denying an asset’s exempt status the lower courts were right to reject trustee Bianca Rucker’s objection to Johnny Belew’s motion to amend his schedule and claim the exemption after she discovered the cash six months into his bankruptcy.

Belew — formerly doing business as Belew and...

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