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Hall v. United States - Postpetition Capital Gains Not Dischargeable in Chapter 12 Cases |
June 23, 2012
Previously published on June 2012
Under Chapter 12 of Title 11 of the United States Code, (the "Bankruptcy Code"), an individual farmer debtor is able to reorganize its debts subject to a court-approved plan that must provide for the full payment of priority claims under 11 U.S.C. §1222(a)(2). However, §1222(a)(2)(A) provides an exception to this requirement by reducing the priority status of certain governmental claims to the equivalent of an unsecured debt, which may be dischargeable even if full payment has not occurred. Until recently, there has been a split in authority interpreting the applicability of this exception to cases filed under Chapter 12.
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