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Home / Opinion Digests / IRA Had Claim for Loan to Debtor LLC (access required)

IRA Had Claim for Loan to Debtor LLC (access required)

Debtor, a limited partnership that developed real estate, whose primary financing was obtained from an IRA owned by a member of most of the LLCs in which debtor held an interest, cannot use a bankruptcy court proceeding to recharacterize as equity a debt owed to the IRA; a bankruptcy court properly granted summary judgment to ...