Phillips v. Bottoms

MEMORANDUM OPINION

PAYNE, District Judge.

This appeal was prompted by a decision of the Bankruptcy Court which overruled in part, and sustained in part, the trustee’s objections to the debtors’ claim that an interest in an investment retirement account (“IRA”) was exempt from inclusion in the bankrupt estate. Keith L. Phillips, trustee (“the Trustee”) for Bernard Lee Bottoms and Kathy Stilley Bottoms (“the Debtors”), seeks reversal of the Bankruptcy Court’s decision that section 34-34 of the Virginia Code is not preempted by the Employee Retirement Income Security Act (ERISA). In their…