New Bankruptcy Case from U.S. Supreme Court re: Exemptions: Where Chapter 7 debtor gave “the value of [her] claimed exemption[s]” on her Schedule C dollar amounts within the range the Bankruptcy Code allows for what it defines as the “property claimed as exempt,” the trustee was not required to object to the exemptions within 30 days to preserve the estate’s right to retain any value in the equipment beyond the value of the exempt interest claimed.
Schwab v. Reilly.
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