A company GHC obtained a judgment to secure &&#35;36;45,458.86 from two people G and N in Ohio state court and filed for garnishment seeking funds from various banks held by the people G and N. People G and N disputed the company GHC’s right of garnishment and claimed that the funds were exempted amount but offered no proof. In response, banks deposited &&#35;36;23,911.97 with the court which was delivered to the company GHC. Later, the people G and N filed a bankruptcy petition in the court. After the people G and N were granted a discharge, they filed a “motion to return funds to debtors” but offered no proof that their debt to the company GHC was included in the discharge. To find: The arguments of the company GHC in response to the motion filed by the people G and N.

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Merrill Lynch employed Post and Maney as account executives. Both men elected to be paid a salary and to participate in the firm’s pension and profit-sharing plans rather than take a straight commission. Thirteen years later, Merrill Lynch terminated the employment of both Post and Maney. Both men began working for a competitor of Merrill Lynch. Merrill Lynch then informed them that all of their rights in the companyfunded pension plan had been forfeited pursuant to a provision of the plan that permitted forfeiture in the event an employee directly or indirectly competed with the firm. Is Merrill Lynch correct in its assertion? Why or why not?

Answer 1

Question

Chapter 15, Problem 7BCP

Summary Introduction

Case summary: A company GHC obtained a judgment to secure &#36;45,458.86 from two people G and N in Ohio state court and filed for garnishment seeking funds from various banks held by the people G and N. People G and N disputed the company GHC’s right of garnishment and claimed that the funds were exempted amount but offered no proof. In response, banks deposited &#36;23,911.97 with the court which was delivered to the company GHC. Later, the people G and N filed a bankruptcy petition in the court. After the people G and N were granted a discharge, they filed a “motion to return funds to debtors” but offered no proof that their debt to the company GHC was included in the discharge.

To find:The arguments of the company GHC in response to the motion filed by the people G and N.

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