November 2, 2009
Supreme Court Grants Cert in LanningBoy, four bankruptcy cases in one term - so far! The 10th Circuit opinion is here. This is about what means "projected disposable income" in chapter 13. Doesn't sound too tough, eh? But the code is very specific about how to compute "disposable income" and that is by looking back to income for the past six months and then subtracting amounts from a bunch of charts - that is disposable income. Do you take that amount and "project" it into the future, i.e., the net amount computed times x months? Or do you ignore the computations and look to the future for the result? Lanning says you ignore the computations Kagenveama in the 9th Circuit says you do it the way the code says even though it gets you to a ridiculous result a lot of the time. .
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