In re Stutzman

Full title: In re James A. Stutzman Angela M. Stutzman Debtors

Court: United States Bankruptcy Court, W.D. New York

Date published: Apr 7, 2004

Case No. 03-17492 K (Bankr. W.D.N.Y. Apr. 7, 2004)

Opinion

Case No. 03-17492 K.

April 7, 2004

MICHAEL KAPLAN, Chief Judge, Bankruptcy

This writer agrees with his colleague that the District Court decision in In re Teufel (copy attached) binds each of us. See In re Trautman, 296 B.R. 651 (Bankr. W.D.N.Y. 2003) (Bucki, J.). Although Teufel involved reciprocal policies, the District Court's holding was not limited to such a fact pattern. This writer concludes that the Bankruptcy Court is bound by Teufel to conclude that even if there is only one policy, its value may be realized for the benefit of the creditors of the beneficiary in a joint bankruptcy case in which the beneficiary does not own the policy.

This writer expresses no opinion as to what the ruling might be if this Court were not constrained by In re Teufel.

The Trustee's Motion is granted.

SO ORDERED.