Bankr. L. Rep. P 74,229 in Re Ceferino G. Cheng, Debtor. Ceferino G. Cheng v. David A. Gill, Trustee Kenneth Robert Fraser

TROTT, Circuit Judge:

We are asked to decide whether the definition of “self-employed retirement plans” under Cal.Civ.Proc.Code § 704.115 includes corporate plans in which one person controls the corporation and the plan. The district court held that it does. We disagree and reverse.

I

Ceferino G. Cheng, M.D., was the sole shareholder, director, and chief executive officer of Ceferino G. Cheng, M.D., Inc. (the “Corporation”). Between 1974 and 1984, Cheng established and maintained two retirement benefit plans (collectively, the “Plan”).

On March 19, 1984, Dr. Cheng filed a voluntary petition for…