In Re Spradlin
United States Bankruptcy Court, E.D. Michigan
1Opinion of the Court
OPINION ON OBJECTION TO DEBTOR’S EXEMPTING TWO IRA’S
ARTHUR J. SPECTOR, Bankruptcy Judge.
The issue to be decided is whether the Michigan exemption from levy and sale permitting a debtor to exempt “[a]n individual retirement account,” Mieh.Comp.Laws § 600.6023(l)(k), exempts one-and-only-one IRA or any-and-all IRAs owned by the judgment debtor. For the reasons which follow, we agree with the chapter 7 trustee and the creditors that the statutory phrase encompasses one and only one IRA.
The Debtor filed a voluntary petition for relief under chapter 13 of the Bankruptcy Code on March 13, 1998,…
2Cases cited33 opinions
- United Sav. Assn. of Tex. v. Timbers of Inwood Forest Associates, Ltd.Supreme Court of the United States · 1988
- Katchen v. LandySupreme Court of the United States · 1966
- Public Citizen v. United States Department of JusticeSupreme Court of the United States · 1989
- International Primate Protection League v. Administrators of Tulane Educational FundSupreme Court of the United States · 1991
- United States v. BishopSupreme Court of the United States · 1973
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