In re Pulliam (00-31502)

The debtor claimed his IRA as exempt property. The Chapter 7 trustee contended that the debtor converted a nonexempt asset (a cashier's check) into an exempt asset (an IRA) on the eve of bankruptcy, with the intent to hinder, delay, or defraud creditors. The court held that the debtor's IRA was excluded from property of the bankruptcy estate and could not be claimed as exempt.

Tuesday, March 26, 2002