Debtor's income tax refund received post-petition is subject to a pro rata method of sharing with bankruptcy estate, based upon when petition is filed in a given tax year, provided income remains...
Judge(s):
Flaum, Wood, and St. Eve (District Judge for the Northern District of Illinois, sitting by designation)
Summarized by Bonnie Clair , U.S. Bankruptcy Court, Eastern District of Missouri
15 years 7 months ago
Citation:
Paolian v. LaSalle Bank, N.A., --- F.3d ---, Nos. 09-2011, 09-2012, 09-2013 & 09-2026 (7th Cir. Aug. 27, 2010)
Ruling:
Reversing the decisions below and in a matter of first impression at the federal appellate level, the Court held that a trustee for a securitized investment pool is an "initial transferee" for the...
