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8th Circuit

Eighth Circuit Has No Per Se Rule Disallowing Exemptions for IRAs in Divorce

Eighth Circuit may have rejected blanket disallowance of exemptions for retirement accounts transferred in divorce.
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Law v. Segal Allowed a Fraudster to Retain $30,000

Eighth Circuit was compelled to overrule its own precedent that permitted the bankruptcy court to bar a debtor from amending schedules based on bad faith.
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Circuit Finds No Successor Liability from Buying Assets and Continuing the Business

Continuing the business after buying the assets from the lender at a foreclosure sale doesn’t bring successor liability.
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Eighth Circuit Upholds Backstopped Rights Offerings for Chapter 11 Plans

Appeals court laudably provides guidance for lower courts by ruling on the merits of a chapter 11 plan and not dismissing an appeal for being equitably moot.
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In the More Lenient Eighth Circuit, Debtors Knock Off $130,000 in Student Loans

Judge Collins discharges all but $23,900 among nine student loans totaling $154,000.

Equitable Factors Result in Disallowance of Default Interest on a Fully Secured Claim

Caselaw on disallowance of default interest is “murky,” Chief Judge Norton says.

A Judgment Lien on Entireties Property Is Avoidable in Missouri, Eighth Circuit Says

A judicial lien impairing an exemption is avoidable in some states under Section 522(f), but not in others.
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Chapter 11 Super Priority Claims Retain Exalted Status After Conversion to Chapter 7

Super priority claims are not created under Section 503(b) and therefore don’t take a back seat to chapter 7 administrative claims.
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Bankruptcy Won’t Lift Suspension of a Driver’s License for Failure to Pay Traffic Fines

The government doesn’t violate the automatic stay by refusing to reinstate a driver’s license suspended for failure to pay traffic fines, Judge Surratt-States says.

BAP Holds that an IRA from a Marital Property Settlement Is Not Exempt

BAP expands Clark v. Rameker to cover IRAs transferred in a divorce proceeding.
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