Bankruptcy’s reach misses shot over marital home

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted March 23, 2018 1:07 PM

The trustee in Timothy Thorpe’s bankruptcy case insisted that the bankruptcy estate included Timothy’s half–interest in the house he and Belva Thorpe purchased in Silvis, 160 miles west of Chicago, after they got married.But Belva petitioned for dissolution of the marriage before Timothy petitioned for bankruptcy. And based on a finding that Timothy dissipated $98,000 in marital assets, a divorce court judge in Rock Island County awarded the house to Belva.Under Section 541(a)(1) of the Bankruptcy Code …

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