Update from the ABI Commission on Consumer Bankruptcy (2019 Chicago Consumer Bankruptcy Conference)
Proceeds of Exempt Property Retain Exempt Status in Chapter 7, District Judge Says
District judge in Maine follows the Fifth Circuit by ruling that the post-petition sale of exempt property does not destroy the exempt status of the proceeds.
Court:
Absolute Priority Doesn’t Require an Individual Debtor to Pay for Exempt Property
BAP holds that an individual in chapter 11 isn’t required to contribute new value to retain exempt property.
Court: