Newport v. Thurman (In Re Thurman)

MEMORANDUM

WISEMAN, Chief Judge.

This case arose from the failure of a sole proprietorship in Nashville, Tennessee, and the subsequent personal bankruptcy filing of its owner, Marion Thurman, in 1990. Thurman sought to exempt the cash surrender value of a life insurance policy from the claims of his creditors pursuant to T.C.A. § 56-7-201. The bankruptcy court held that Thurman could not exempt the life insurance policy in question. Thurman has appealed the bankruptcy court decision. For the following reasons, the Court AFFIRMS Judge Lundin’s opinion.

I

Marion Thurman purchased an insurance…