Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
10th Edition
ISBN: 9781337093897
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 15, Problem 4BCP
Summary Introduction
Case summary: Person M and person D got divorced. The state court ordered person M to pay the child support and alimony money to person D. Court also ordered to divide certain marital property. M spent half of the investment funds. The court continually held M in contempt for failing to pay alimony and child support finances to person D. Later, M filed for relief under chapter-7 of bankruptcy and included that D didn’t pay alimony, child support, and investment fund as per the court orders.
To explain : The discharge of the debts of person M.
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Vogel filed for Chapter 7 bankruptcy in March 2007. Vogel’s debts consisted of $11,000 in secured debt represented by his automobile and $35,925 in unsecured debt. Vogel’s assets on the petition dated totaled approximately $2800.00 all of which he claimed as exempted property. Vogel also reported monthly expenses of $1600. Vogel was unemployed at the time of filing and reported past earnings of $18,000 annually. In April 2007, Vogel won $130,000 in the lottery from which he received approximately $90,500.00 after taxes.
The bankruptcy Trustee instructed him not to spend it but he did; the entire amount on new vehicles and nonemergency personal expenses. Vogel continued his bankruptcy proceeding and requested discharge of his pre-petition debts. The trustee seeks dismissal of the petition based on bad faith conduct given the totality of the circumstances.
Should the Court grant the trustee’s motion to dismiss?
Does it make a difference that the lottery proceeds were…
Explain the circumstances under which you feel a consumer bankruptcy is appropriate, and when the ability to have a debt eliminated should be restricted.
a debtor fails to appear at the Chapter 7 creditors' meeting, the court may refuse to grant the bankruptcy. True False
Chapter 15 Solutions
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card Cross/miller’s The Legal Environment Of Business: Text And Cases, 10th
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