Of Counsel Kathleen Cashman-Kramer authored a case summary titled, “Elliott vs. Pacific Western Bank – Debtor Cannot Avoid Completed Pre-Petition Judgment Levy on IRA Account” which was published in the Insolvency Law Committee E-Bulletin (November 2020) by the Business Law Section of the California Lawyers Association (CLA). The article was written by Ms. Cashman-Kramer with editorial contributions from Insolvency Law Committee member Hon. Meredith Jury (ret.).
In the article, Ms. Cashman-Kramer analyzes the case Elliott vs. Pacific Western Bank, 969 F.3d 1006 (9th Cir. 2020) which resulted in the Ninth Circuit Court of Appeals affirming the district court’s affirmance of the bankruptcy court’s dismissal of a Chapter 7 debtor’s adversary proceeding. She discusses how the bankruptcy court found that the debtor could not avoid a state court judgment creditor’s pre-petition levy on his individual retirement account (IRA) under 11 U.S.C. sections 522(h) or (f), and could not establish that the levy constituted a preferential transfer under 11 U.S.C. section 547. Therefore, the lien was not subject to being avoided because it was satisfied prior to the petition date, and the debtor had no interest in the property as of the petition date.
To read the full article, click here.
Ms. Cashman-Kramer practices in the areas of bankruptcy and other insolvency matters as well as in commercial and real estate litigation. Her representation in the Bankruptcy Court includes bankruptcy trustees, secured, priority and unsecured creditors, lessors, and bankruptcy debtors in commercial Chapter 11 and Chapter 7 bankruptcy proceedings. She has represented a Chapter 13 Trustee for the U.S. Bankruptcy Court for the Southern District of California. She also has represented title insurance companies as well as individual and corporate parties in business and real estate litigation.
About Sullivan Hill:
Sullivan Hill has provided efficient, aggressive, and responsive legal representation for more than 50 years. The firm provides full service representation to clients in a variety of industries with an emphasis in insolvency, construction disputes, insurance coverage, real estate, business disputes, civil litigation, and transactional work. The firm has offices in San Diego and Las Vegas.