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Legal Opinion

Heights Finance Corp. v. Vaughn (In Re Vaughn)

United States Bankruptcy Court, C.D. Illinois

Decided November 20, 1986No. 19-70255PublishedCited by 6 opinions

1Opinion of the Court

OPINION AND ORDER

WILLIAM V. ALTENBERGER, Bankruptcy Judge.

Section 522(f) of the Bankruptcy Code permits a debtor to avoid certain liens to the extent that they impair an exemption to which the debtor would have been entitled. The exemption laws of many states, including Illinois, provide that it is only the debt- or’s equity interest in property which is exempt. The question before the Court is whether a lien can be avoided under Section 522 when applicable state law has defined lien encumbered property as non-exempt. That issue is one which has spawned proliferous litigation and its…

2Cases cited15 opinions

  1. In Re Lamar Barclay Pine, Sr., and Shirlene Tucker Pine, Debtors. Melvin Giles and Wanda Giles, Debtors v. Credithrift of America, Inc.Court of Appeals for the Sixth Circuit · 1983
  2. In the Matter of Thomas Yale McManus and Betty Sue Smith McManus Bankrupts. Thomas Yale McManus and Betty Sue Smith McManus v. Avco Financial Services of Louisiana, Inc., in the Matter of Wallace Gipson and Bobbie Phenix Gipson, Bankrupts. Blazer Financial Services, Inc., Creditor/appellant v. Wallace Gipson and Bobbie Phenix Gipson, Debtors/appelleesCourt of Appeals for the Fifth Circuit · 1982
  3. In the Matter of Robert Henry Allen, Jr., and Mary Lou Allen, Debtors. Robert Henry Allen, Jr., and Mary Lou Allen v. Hale County State BankCourt of Appeals for the Fifth Circuit · 1984
  4. Coleman v. Lake Air Bank (In Re Coleman)United States Bankruptcy Court, M.D. Tennessee · 1980
  5. Beard v. Dial Plan (In Re Beard)United States Bankruptcy Court, S.D. Iowa · 1980

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3Cited by6 opinions

  1. In Re ValeUnited States Bankruptcy Court, N.D. Indiana · 1989
  2. Green v. Snow (In Re Snow)United States Bankruptcy Court, W.D. Virginia · 1987
  3. In Re GonshorowskiUnited States Bankruptcy Court, N.D. Alabama · 1990
  4. Matter of NehringUnited States Bankruptcy Court, S.D. Iowa · 1988
  5. In Re WinkUnited States Bankruptcy Court, W.D. Wisconsin · 1992

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