Nicole A. Cole

CourtUnited States Bankruptcy Court, N.D. Mississippi
DecidedJanuary 23, 2025
Docket23-12890
StatusUnknown

This text of Nicole A. Cole (Nicole A. Cole) is published on Counsel Stack Legal Research, covering United States Bankruptcy Court, N.D. Mississippi primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Nicole A. Cole, (Miss. 2025).

Opinion

SO ORDERED,

2 Judge Jason D. Woodard os ey United States Bankruptcy Judge Qiao The Order of the Court is set forth below. The case docket reflects the date entered.

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF MISSISSIPPI In re: ) ) NICOLE A. COLE, ) Case No.: 238-12890-JDW ) Debtor. ) Chapter 13

MEMORANDUM OPINION AND ORDER SUSTAINING OBJECTION TO DEBTOR’S CLAIM OF EXEMPTIONS (Dkt. # 88) This matter came before the Court on the Objection to Debtor’s Claim of Exemptions' filed by the chapter 13 trustee and the debtor’s Response to Objection to Claim of Exemptions.2 A hearing was held on December 10, 2024, where counsel for the trustee and counsel for the debtor appeared and presented argument. No evidence was admitted, although the parties referred to pleading exhibits. The question is whether the state law garnishment cap

2 (Dkt. # 91).

found in Miss. Code Ann. § 85-3-4 exempts litigation settlement proceeds in a bankruptcy case not involving a garnishment. The settlement proceeds derive

from the debtor’s lawsuit against her former employer for wrongful termination and lost wages. If exempt, the debtor may retain the settlement proceeds. If not exempt, the trustee may distribute the money to creditors. The Court has considered the arguments, pleadings, and relevant law,

and finds that the exemption statute is inapplicable, and the trustee’s objection is due to be sustained. The settlement proceeds are non-exempt property of the bankruptcy estate that are available for distribution to creditors. I. JURISDICTION

This Court has jurisdiction pursuant to 28 U.S.C. §§ 151, 157(a), and 1334, and the

dated August 6, 1984. This is a core proceeding as set forth in 28

U.S.C. § 157(b)(2)(A) and (B). II. FINDINGS OF FACT3 The facts are brief and undisputed. The debtor filed her voluntary chapter 13 petition on September 18, 2023.4 Her chapter 13 plan was

confirmed on January 24, 2024, providing for no payment to nonpriority

3 To the extent any of the findings of fact are considered conclusions of law, they are adopted as such, and vice versa. 4 (Dkt. # 1). unsecured claims.5 The debtor later filed an application to employ special counsel to represent her in postpetition employment-related claims against her

former employer, which was approved on June 7, 2024.6 She then filed an application to approve a settlement of that case, whereby the debtor would receive $15,000 “for back wages” in full and complete settlement of her claims.7 On September 16, 2024, the Court entered an agreed order approving the

settlement.8 That agreed order provided that the settlement proceeds would be paid to the trustee to be disbursed at a later date “pursuant to further order of this Court,” essentially preserving the issue that is before the Court now.9 On October 2, 2024, the debtor amended her Schedule C to claim the

settlement proceeds as exempt pursuant to Miss. Code Ann. § 85-3-4.10 Her novel theory is that the settlement proceeds for back wages11 are exempt because the Mississippi garnishment statute provides that wages are exempt from seizure or garnishment for a period of thirty days, after which certain

percentages of those wages are protected.12 Of the thousands of chapter 13

5 (Dkt. # 34). 6 (Dkt. ## 40, 47). 7 (Dkt. # 69). The settlement agreement was attached to the application but was not admitted into evidence at the hearing. It was referenced by counsel and the trustee took no issue with the categorization of the settlement proceeds as back wages. 8 (Dkt. # 82). 9 . 10 (Dkt. # 87). 11 The Court makes no finding here that the settlement proceeds are all wages because the Court finds that the statute is inapplicable even if the proceeds are wages. 12 The debtor offered no case law in support of this theory in her pleadings or at the hearing. cases filed in Mississippi each year, this is the first time the Court is aware of this theory being advanced. The trustee objected to the exemption, arguing

that the “cited statute is inapplicable to the property in which the Debtor has claimed an exemption.”13 III. CONCLUSIONS OF LAW When a debtor files a bankruptcy petition, generally all of the debtor’s

assets become property of the bankruptcy estate.14 But the debtor may claim certain statutorily enumerated property as exempt, thereby excluding it from property of the estate.15 “A fundamental component of an individual debtor’s fresh start in bankruptcy is the debtor’s ability to set aside certain property as

exempt from the claims of creditors. Exemption of property, together with the discharge of claims, lets the debtor maintain an appropriate standard of living as he or she goes forward after the bankruptcy case.”16 For example, a debtor may claim an exemption for a homestead, “to provide debtors with the basic

necessity of a home.”17 Likewise, tools of the trade are often exempt to “enable a debtor to continue in his trade”18 and “prevent his becoming ‘a public

13 (Dkt. # 88). 14 11 U.S.C. § 541 (bankruptcy estate consists of “all legal or equitable interests of the debtor in property as of the commencement of the case.”). 15 11 U.S.C. § 522; , 560 U.S. 770, 774 (2010). 16 , 361 B.R. 910, 913 (Bankr. D. Mont. 2007) (quoting 4 Collier on Bankruptcy, ¶ 522.01, p. 522–15 (15th ed. rev.)). 17 , 487 B.R. 410, 420 (Bankr. D. N.J. 2013). , 240 B.R. 254, 256 (Bankr. W.D. Tex. 1999). 18 , 252 B.R. 102, 107 (Bankr. N.D. Miss. 2000) (citing , 825 F.2d 1140, 1144 (7th Cir.1987)); , MISS. CODE ANN. § 85-3-1(a)(iii). charge.’”19 Exempt property is retained by the debtor and is not available for payment to creditors.20

Exemptions “effectuate a careful balance between the interests of creditors and debtors.”21 As the Supreme Court has noted, “every asset the Code permits a debtor to withdraw from the estate is an asset that is not available to ... creditors. On the other hand, exemptions serve the important

purpose of ‘protect[ing] the debtor’s essential needs.’”22 When Congress enacted § 522(b) permitting debtors in bankruptcy to utilize property exemptions granted under state law as alternatives to the federal exemptions listed in § 522(d), Congress had in mind the type of exemptions where property is exempt thereby preventing creditors from threatening the exempt property with attachment, seizure and execution. In other words, the essence and purpose of a bankruptcy exemption is the sequestration of particular types of a debtor’s property by placing the exempt property .23 Section 522(d) of the Bankruptcy Code24 lists categories of property that a debtor may claim as exempt (known as the “federal exemptions”), but section 522(b) further provides that states may prohibit their citizens from choosing

19 , 140 B.R. 634, 636 (Bankr. W.D. Tex. 1992) (quoting , 861 F.2d 550, 552 (9th Cir.1988)). 20 , 500 U.S. 305, 308 (1991). 21 , 573 U.S. 122, 129 (2014). 22 .

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Nicole A. Cole, Counsel Stack Legal Research, https://law.counselstack.com/opinion/nicole-a-cole-msnb-2025.