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The Seventh Circuit affirms the district court's reversal of the bankruptcy court. The debtor claimed an exemption for a rare first edition Book of Mormon under Illinois's exemption statutes, which permit an exemption for "a bible."
The Seventh Circuit affirms the district court's reversal of
the bankruptcy court. The debtor claimed an exemption for a rare
first edition Book of Mormon under Illinois's exemption
statutes, which permit an exemption for "a bible." The
trustee argued that the debtor should be permitted only to exempt
one of the debtor's other copies, because the rare copy was
worth approximately $10,000 and, the trustee argued, the statute
was being misused in this case. The court holds that the plain
wording of the statute permitted the claimed exemption. Opinion
below.
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