Schwab v. Reilly
|Docket No.||Op. Below||Argument||Opinion||Vote||Author||Term|
Nov 3, 2009
|Jun 17, 2010||6-3||Thomas||OT 2009|
Holding: Someone who files for bankruptcy is allowed to retain the value of certain property that would otherwise be sold to pay her debts, up to a certain dollar limit. If the debtor initially declares that the property is worth less than that limit, but it turns out that the property is worth more than the limit, the trustee administering the bankruptcy process can keep the money above the limit for the creditors, even if the trustee did not object initially when the debtor first declared the propertyâ€™s value.
Judgment: Reversed and remanded, 6-3, in an opinion by Justice Clarence Thomas on June 17, 2010. Justice Ginsburg dissented, joined by Chief Justice Roberts and Justice Breyer.
- Strict limits on exemption claims in personal bankruptcy
- Interpreting Ambiguous Exemption Claims
- Bankruptcy Exemptions and Trustee Objections (Schwab v. Reilly Argument Preview)
- Does the debtor call the shots?
Briefs and Documents
- Brief for Petitioner William G. Schwab, Esquire, Trustee for Nadeja Reilly
- Brief for Respondent Nadejda Reilly
- Reply Brief for Petitioner William G. Schwab, Esquire, Trustee for Nadeja Reilly
- Brief for the National Association of Bankruptcy Trustees in Support of Petitioner
- Brief for the United States in Support of Petitioner
- Brief for the National Association of Consumer Bankruptcy Attorneys and Professor Kenneth N. Klee, Robert M. Lawless, Richard Lieb, and Michael D. Sousa in Support of Respondent