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''Law v. Siegel'', , is a ruling of the Supreme Court of the United States that describes the extent of the powers of bankruptcy courts in dealing with the bad faith of debtors. ==Background== When Law filed for Chapter 7 bankruptcy in 2004, his sole asset was a home in Hacienda Heights, California that was said to be worth $363,000. He declared that: : * there was a first mortgage lien (deed of trust) of $150,000 owing to a bank, and a second for $168,000 owing to "Lin’s Mortgage & Associates" : * there were three judgment liens also registered against the property : * as the value of the two mortgage liens, together with California's homestead exemption of $75,000, was greater than the value of the house, there was nothing available for distribution to Law's general creditors. It was discovered in subsequent litigation that the second mortgage lien did not exist. The house sold for about $680,000,〔 and only one creditor timely filed a proof of claim which was settled for $120,000.〔 The trustee sought to surcharge the homestead exemption in order to be reimbursed for his legal expenses in the matter. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Law v. Siegel」の詳細全文を読む スポンサード リンク
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