Legal Opinion
Singer Asset Finance Co. v. Duboff Family Investments (In Re Duboff)
United States Bankruptcy Court, C.D. Illinois
Decided March 13, 2003No. 16-81782PublishedCited by 4 opinions
1Opinion of the Court
OPINION
LARRY L. LESSEN, Bankruptcy Judge.
The issue before the Court is whether the pledge of a stream of lottery payments as collateral for a loan violates Section 13 of the Illinois Lottery Law and is therefore void.
On April 19, 1997, the Debtor, Michelle Duboff, and her estranged husband, David Duboff, won $14 million in the Illinois State Lottery Lotto. The Duboffs created The Duboff Family Investment Partnership on July 18, 1997, for the specific purpose of receiving and managing the lottery prize proceeds. The Duboffs are the only partners of the partnership. The Lotto prize was to be…
2Cases cited18 opinions
- In the Matter of William J. Stoecker, Debtor. Appeal of Thomas E. Raleigh, as Chapter 7 Trustee for the Estate of William J. StoeckerCourt of Appeals for the Seventh Circuit · 1993
- Walker v. RogersAppellate Court of Illinois · 1995
- O'Brien v. Encotech Construction Services, Inc.District Court, N.D. Illinois · 2001
- Converse v. Lottery CommissionCourt of Appeals of Washington · 1989
- McCabe v. Director NJ Lottery CommissionNew Jersey Superior Court Appellate Division · 1976
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3Cited by4 opinions
- Texas Lottery Commission v. First State Bank of DeQueenTexas Supreme Court · 2010
- In Re FradenUnited States Bankruptcy Court, D. Massachusetts · 2004
- Commonwealth v. Settlement Funding, L.L.C.Fairfax County Circuit Court · 2005
- Singer Asset Finance Co. v. Gallagher (In re Gallagher)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2005