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but that S 522(g) allowed the trustee to file what would be an untimely objection under Rule 4003(b). The court pointed out that a trustee will "rarely be able to recover property within the thirty-day period of Rule 4003(b)" and that the "nature of S 522(g) is such that is precludes exemptions in recovered property even beyond the time limit imposed by Rule 4003(b). The court said that a trustee acting under S 522(g) is "not contesting the exemption per se, but rather is asserting the fact that he or she has set aside a debtor's voluntary transfer." The court agreed with the trustee's contention that the debtor voluntarily transferred an interest in the truck by granting a purchased money security interest, and it did not matter that the trustee did not commence formal proceedings to recover the property under S 522(g) so long as the trustee "took some action resulting in the reconveyance of the property to the estate," and thus allowed the objection to the exemption.)
In re Ladd, 450 F.3d 751 (8th Cir. May 5, 2006) (Res judicata did not prohibit debtors from amending their schedules to claim state exemptions after their claimed federal exemptions were denied.)
United States v. Jacobs (In re Jacobs), 490 F.3d 913 (11th Cir. June 29, 2007) (Debtor's tax debts were non-dischargeable under S 523(a)(1)(C) based on debtor's willful attempts to evade or defeat the taxes. This finding was supported by the following facts: (1) debtor titled real property solely in spouse's name even though spouse had no income or assets, and debtor made all of the mortgage payments; (2) debtor caused his income to be characterized as officer compensation not subject to tax withholding and then failed to pay estimated taxes on those earnings; (3) debtor used his business entities to purchase numerous luxury vehicles that he used for personal purposes; (4) debtor made large discretionary expenditures while debtor knew of his tax liabilities, was capable of paying them but chose not to; and (5) debtor made substantial loans to his spouse for no documented consideration. The fact that debtor filed returns, paid a portion of his tax liability and regretted not paying his taxes did not defeat the finding of nondischargeability.)
47. 523(a)(2) Dischargeability -- False Statements
Friendly Fin. Serv.-Eastgate Inc. v. Dorsey (In re Dorsey), 505 F.3d 395 (5th Cir. Oct. 23, 2007) ((1) Bankruptcy court erred when it held that creditor did not have standing to challenge dischargeability under S 523 or
