IN RE SPRADLIN

Bankruptcy No. 98-20611.

231 B.R. 254 (1999)

In re Robert Cecil SPRADLIN, Sr., Debtor.

United States Bankruptcy Court, E.D. Michigan, Northern Division.

January 29, 1999.


Attorney(s) appearing for the Case

Susan M. Cook, Attorney at Law, Bay City, MI, for debtor.

George E. Jacobs, Attorney at Law, Bay City, MI, for Chapter 7 Trustee.

Michael C. Hammer, Attorney at Law, Detroit, MI, for Kenneth Nathan.

Daniel G. Helton, Attorney at Law, Detroit, MI, for Steelcase parties.


OPINION ON OBJECTION TO DEBTOR'S EXEMPTING TWO IRA'S

ARTHUR J. SPECTOR, Bankruptcy Judge.

The issue to be decided is whether the Michigan exemption from levy and sale permitting a debtor to exempt "[a]n individual retirement account," Mich.Comp.Laws § 600.6023(1)(k), exempts one-and-only-one IRA or any-and-all IRAs owned by the judgment debtor. For the reasons which follow, we agree with the chapter 7 trustee and the creditors that the statutory...

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