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Control of bank account can constitute ownership

In de la Pena Stettner v. Smith (In re IFS Financial Corp.), the US Court of Appeals for the Fifth Circuit affirmed that a chapter 7 debtor’s control over certain bank accounts was sufficient to to establish de facto ownership.  Accordingly, the accounts were considered ‘property of the estate.’  A summary of the opinion and copy of opinion can be found here.

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The firm serves its clients by listening to and understanding their needs and then providing appropriate advice and representation. In addition to general civil litigation and business law, the firm focuses on collections, bankruptcy and commercial litigation.