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Kenton L. & Marilyn K. Thompson, Ch. 7, BK86-2706

Shortly before filing bankruptcy, the debtors used their home as collateral for a loan to purchase an annuity for the full amount of the home's equity. The court denied an exemption for the annuity, ruling that it had been obtained with fraudulent intent

Date: 
Friday, October 16, 1987
Judge: 
Judge Timothy J. Mahoney (Retired)