Goben v. Corydon State Bank (In re Goben)
- Summarized by Lars Fuller , BakerHostetler
- 11 years 2 months ago
- Citation:
- Goben v. Corydon State Bank (In re Goben), No. 13-6039 (8th Cir. BAP 2013)
- Tag(s):
-
- Ruling:
- The 8th Circuit BAP affirmed the U.S. Bankruptcy Court for the Southern District of Iowa (Des Moines). The bankruptcy court sustained secured creditor's objection to Chapter 7 debtor's claim of exemption in vehicle in which she had no equity. The bankruptcy court also rejected debtor's argument that 11 USC 522(f) allowed her to avoid the secured creditor's lien as impairing her exemption, finding that section 522(f) had no applicability to debtor's vehicle or the secured party's lien.
- Procedural context:
- Chapter 7 debtor appealed to 8th Circuit BAP bankruptcy court's granting of secured party's objection to claim of exemption in debtor's vehicle.
- Facts:
- Chapter 7 debtor's vehicle was encumbered by validly perfected lien in the amount of $4,233.39. Debtor scheduled vehicle as having value of $1,000, and claimed a $1,000 exemption under Iowa's personal property exemptions. Secured creditor objected to debtor's claim of exemption. Debtor responded to exemption objection by arguing that 11 USC 522(f) allowed her to avoid secured party's lien because it impaired her exemption.
- Judge(s):
- Kressel, Schermer, & Nail
ABI Membership is required to access the full summary. Please Sign In using your ABI Member credentials. Not a Member yet? Join ABI now - it is absolutely worth it!
