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Commercial Law Keyed to Whaley
In re Troupe
Citation:
340 B.R. 86, 2006 WL 689515 (2006)Facts
William J. Troupe filed a voluntary petition under Chapter 7 of the Bankruptcy Code. At the time of filing, Troupe had an interest in an ERISA-qualified pension plan through his employer. The plan contained the required anti-alienation provisions mandated by ERISA, which restrict the transfer of benefits. Troupe claimed that his interest in this pension plan should be excluded from the bankruptcy estate pursuant to 11 U.S.C. § 541(c)(2). The Chapter 7 Trustee, Richard E. Barber, objected to this exclusion, contending that the pension plan did not qualify as a spendthrift trust under Oklahoma state law and therefore should be included in the bankruptcy estate available for distribution to creditors.
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