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Trustee John S. Lovald v. Home Federal Bank (In re Jay Scott Pliska)

Bankr. No.: 
05-40058
Adv. No.: 
05-4036
Chapter: 
7
Date of Decision: 
August 23, 2005
Issue: 
Whether the chapter 7 trustee was entitled to recover a $200,000 post-petition payout to Debtor’s daughter, the named beneficiary, under a term life insurance policy Debtor owned on the date he filed his petition?
Ruling: 
The payout under Debtor’s term life insurance policy was not property of the bankruptcy estate. The chapter 7 trustee was not entitled to an order for turnover with respect to any portion of that payout.
Full Bankruptcy Court Decision: 
Appeal Summary: 
The district court dismissed the appeal and affirmed the decision of the bankruptcy court.
Full Bankruptcy Appellate Panel/District Court Appeal Opinion: