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September 23, 2009

Solicitor General Amicus Brief in Exemption Case - Schwab v. Reilly

The Solicitor General supports the trustee. Its brief can be accessed here

September 23, 2009 in Supreme Court | Permalink

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Comments

As a general administrative guideline - the System cannot allow an appraisal estimate to affect the outcome of a ruling or Code.

The only trigger that can change the exemption is a full (irrevocable) cash offer above the petitioners claimed value. This is the only true way to dispute a petitioners claimed value.

More importantly - is the need sine qua non - to preserve the intent of the Code to protect both petitioner and creditors by law.

At the barest of minimums, to preserve a business still functioning, Congress needs to address the issue of a Trustee seeking a way to gain cash from versus the need to keep the business intact.

If, indeed, some rich nut stipulates to the court he will pay more than the petitioner claimed as worth, there should be a way that the petitioner can work out a play to pay the difference.

Or a person or party with personal animus could utilize the court to pursue vendettas by merely offering above average value for an asset in order to torture a petitioner!

Posted by: Laser Haas | Sep 24, 2009 8:12:23 AM

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