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Interest in Tax Refund Not Subject to Turnover Under Bankruptcy Code, and Criminal Matter

By FindLaw Staff on June 29, 2010 | Last updated on March 21, 2019

In re: Graves, No. 08-1462, involved an appeal from the bankruptcy appellate panel's holding that the Bankruptcy Code's turnover provision, 11 U.S.C. section 542, did not empower a trustee to demand turnover from a debtor in this case.  The court of appeals affirmed with modification, on the ground that debtors' interest in a 2006 tax refund, irrevocably applied pre-petition to 2007 taxes, was not subject to turnover under 11 U.S.C. section 542(a).

In US v. McGinty, No. 09-6246, a prosecution for misapplication of bank funds, the court of appeals reversed the district court's award of forfeiture at sentencing, on the ground that the government was entitled to a money judgment against defendant for the money he obtained from his criminal activity.

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