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IN RE PIKUSH

BAP No. SC-92-2124 ORJe, Bankruptcy No. 91-07050-A7.

157 B.R. 155 (1993)

In re Frances PIKUSH, Debtor. James L. KENNEDY, Chapter 7 Trustee, Appellant, v. Frances PIKUSH; First San Antonio Capital; Resolution Trust Corporation, Receiver of Occidental Nebraska; United States Trustee, Appellees.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided August 12, 1993.

Attorney(s) appearing for the Case

Ross G. Simmons, San Diego, CA, for appellant.

Frederick C. Phillips, San Diego, CA, for appellees.

Before: OLLASON, RUSSELL, and JELLEN, Bankruptcy Judges.

OPINION

JELLEN, Bankruptcy Judge:

The bankruptcy court ruled over the objection of James L. Kennedy, trustee in bankruptcy, that three single-premium annuity contracts that the debtor had purchased for cash prior to the date of her Chapter 7 petition were exempt. The trustee appeals. We reverse.

I. FACTS

Before filing her voluntary petition under Chapter 7 of the Bankruptcy Code, debtor sold her non-exempt interest in a real property partnership...

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