Poll Respondents Nearly Split over the Estate Property Status of Proceeds of Post-Confirmation Lottery Winnings
Contact: John Hartgen
POLL RESPONDENTS NEARLY SPLIT OVER THE ESTATE PROPERTY STATUS OF PROCEEDS OF POST-CONFIRMATION LOTTERY WINNINGS
March 2, 2007,
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.
ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 11,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.