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Tag Archives: Bankruptcy

Bankruptcy: Class-Action Settlement-Cy Pres Distribution-Disgorgement of Attorneys’ Fees

Petitioner filed a claim against debtor, which acted as class counsel in petitioner’s securities class action. Debtor’s chosen claims administrator fraudulently asserted claims of more than $5.8 million. After distributions to the class, debtor successfully obtained a cy pres distribution ...

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Bankruptcy: Claimed Exceptions- Interests in Former Spouse’s Accounts- Retirement Funds

In his divorce proceeding, debtor was awarded one-half the value of his ex-wife’s retirement accounts. Debtor took no action to obtain title or possession to the accounts. However, debtor claimed an exemption for the accounts as retirement funds; the bankruptcy ...

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Bankruptcy: Claimed Exceptions- Interests in Former Spouse’s Accounts- Retirement Funds

Where debtor’s interest in retirement accounts merely resulted from a property settlement, funds in the accounts were not retirement funds exempt under federal law from bankruptcy proceeding as the exemption was limited to the individual who created and contributed funds ...

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Bankruptcy: Restitution Agreement- Injunctive and Declaratory Relief- Bankruptcy Court Jurisdiction

Debtor was fired or resigned from his employment with plaintiff-appellant after he used his position to misappropriate funds. Debtor and appellant executed a restitution agreement empowering an attorney-in-fact to collect debtor’s distributions and turn over to appellant. After debtor filed ...

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