Neal v. First Alliance Bank

Summarized by Ryan Heilman , Heilman Law PLLC
11 years 7 months ago

Citation:

Neal v. First Alliance Bank, Case No. 13-6531 (July 9, 2014).

Tag(s):

6th Circuit
Consumer Bankruptcy

Ruling:

Applying Tennessee law, the Sixth Circuit affirmed the District Court's decision sustaining the Chapter 7 Trustee's objection to the Debtors' attempt to exempt two annuities.

Procedural context:

On appeal from the U.S. District Court for the Western DIstrict of Tennessee.

Facts:

The debtors, husband and wife, attempted to exempt two annuities. Each debtor was the owner of one of the annuities and the other debtor was the beneficiary. Applying Tennessee law, the Sixth Circuit sustained the Chapter 7 Trustee's objections to the exemptions.

Judge(s):

Guy, Kethledge, and Stranch

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