Legal Opinion
Wornick v. Gaffney
Court of Appeals for the Second Circuit
Decided September 24, 2008No. Docket 07-1657-bkPublishedCited by 24 opinions
1Opinion of the Court
TRAGER, District Judge:
In this bankruptcy appeal, the debtors, James and Karen Wornick, ask us to reverse a district court order holding that certain assets in connection with life insurance policies they each held for the benefit of the other were not exempt from the joint administration of their bankruptcy estates. Because the inchoate interest that a spouse beneficiary holds in a reciprocal life insurance policy does not constitute an asset of the beneficiary’s estate, the judgment of the district court is reversed.
Background
The facts of this case are simple. On October 15, 2005, the…
2Cases cited15 opinions
- In Re Lois Adlman, Bankrupt. Bank of Pennsylvania v. Lois AdlmanCourt of Appeals for the Second Circuit · 1976
- Bankruptcy Services, Inc. v. Ernst & Young (In Re CBI Holding Co.)Court of Appeals for the Second Circuit · 2008
- Robert J. Musso v. Tanya OstashkoCourt of Appeals for the Second Circuit · 2006
- In Re JorczakUnited States Bankruptcy Court, D. Connecticut · 2004
- Davis v. Modern Industrial BankNew York Court of Appeals · 1939
10 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- McHale v. Citibank, N.A. (In Re the 1031 Tax Group, LLC)United States Bankruptcy Court, S.D. New York · 2009
- Weber v. SEFCU (In Re Weber)Court of Appeals for the Second Circuit · 2013
- Picard v. JPMorgan Chase & Co.District Court, S.D. New York · 2011
- Morrison Informatics, Inc. v. Members 1st Federal Credit UnionSupreme Court of Pennsylvania · 2016
- Official Committee of Unsecured Creditors v. UMB Bank, N.A. (In re Residential Capital, LLC)United States Bankruptcy Court, S.D. New York · 2013
19 more not listed; retrieve them via the Exa API.