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Poll Respondents Nearly Split over the Estate Property Status of Proceeds of Post-Confirmation Lottery Winnings

Contact: John Hartgen
             703-739-0800
             jhartgen@abiworld.org

 

POLL RESPONDENTS NEARLY SPLIT OVER THE ESTATE PROPERTY STATUS OF PROCEEDS OF POST-CONFIRMATION LOTTERY WINNINGS

March 2, 2007, Alexandria, Va. — Respondents in a recent American Bankruptcy Institute online poll were nearly divided over the question of whether the proceeds from a winning lottery ticket purchased with post-confirmation earnings in a chapter 13 case are considered property of the chapter 13 estate. Forty-six percent of respondents disagreed that the lottery winnings should not be considered apart of the chapter 13 estate, as 38 percent “strongly disagreed” and 8 percent “disagreed somewhat.”

Forty-one percent of respondents agreed, however, that the proceeds of a winning lottery ticket purchased with post-confirmation earnings in a chapter 13 case were not the property of the chapter 13 estate. Thirty-three percent of respondents “strongly agreed” and 8 percent “agreed somewhat” that the lottery winnings should not be considered part of the chapter 13 estate even though the winning lottery ticket was purchased with post-confirmation earnings. Nine percent did not know or had no opinion.

ABI members and the public were welcome to submit their response to the statement: “The proceeds of a winning lottery ticket purchased with post-confirmation earnings in a chapter 13 case are not property of the chapter 13 estate.  The ABI Quick Poll was open for voting from Feb. 16 - 22.

 

ABI’s weekly Quick Poll is posted on ABI’s home page, www.abiworld.org. ABI members and the public are invited to respond to a question on a timely bankruptcy or insolvency issue. Visit http://www.abiworld.net/quickpoll/ to access the results of previous ABI Quick Polls.

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