Stilson v. Gulf States Paper Corp. (In re Pilkington)

OPINION

POINTER, Chief Judge.

By a Complaint for Turnover of Property, the Trustee in Bankruptcy sought to include as property of the bankrupt estate the debtor’s interest in a thrift plan established by her employer, Gulf States Paper Corporation, subject to the provisions of 29 U.S.C. §§ 1001 et seq. (ERISA). Gulf States moved to dismiss the Complaint, contending under 11 U.S.C. § 541(c)(2) that the debtor’s interest was subject to a spendthrift provision “enforceable under applicable nonbankruptcy law.” The controversy was submitted to the Bankruptcy Court for a decision on agreed facts,…