NORWEST BANK NEBRASKA, N.A. v. TVETEN

No. 87-5312.

848 F.2d 871 (1988)

NORWEST BANK NEBRASKA, N.A., Business Development Corporation of Nebraska and Harold J. Panuska, as Trustee for the Harold J. Panuska Profit Sharing Trust and the Harold J. Panuska Employee Trust Fund, Appellees, v. Omar A. TVETEN, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided June 2, 1988.

Rehearing and Rehearing Denied August 9, 1988.


Attorney(s) appearing for the Case

Cass S. Weil, St. Paul, Minn., for appellant.

Gordon B. Conn, Jr., Minneapolis, Minn., for appellees.

Before ARNOLD, WOLLMAN and TIMBERS, Circuit Judges.


Rehearing and Rehearing En Banc Denied August 9, 1988.

TIMBERS, Circuit Judge.

Appellant Omar A. Tveten, a physician who owed creditors almost $19,000,000, mostly in the form of personal guaranties on a number of investments whose value had deteriorated greatly, petitioned for Chapter 11 bankruptcy. He had converted almost all of his non-exempt property, with a value of about $700,000, into exempt property that could not be reached by his creditors. The bankruptcy...

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