IN RE BATES

Bankruptcy No. 94-10329.

176 B.R. 104 (1994)

In re Paul Ervin BATES, Debtor.

United States Bankruptcy Court, D. Maine.

December 13, 1994.


Attorney(s) appearing for the Case

Alan F. Harding, Hardings Law Offices, Presque Isle, ME, for First Citizens Bank.

Kim M. Vandermeulen, Vandermeulen, Goldman & Allen, P.A., Augusta, ME, for debtor.

Paul French.


MEMORANDUM OF DECISION

JAMES B. HAINES, Jr., Bankruptcy Judge.

Before the court are First Citizens Bank's ("First Citizens" or "the bank") objection to the debtor's exemption claim in a self-directed individual retirement account ("IRA") and the debtor's motion to avoid First Citizens' lien in the same asset. For the reasons set forth below, the bank's objection is overruled and the debtor's lien avoidance motion is, after a fashion, granted.

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