Introduction
USA, Derivatives, Insolvency & Restructuring, Litigation, Eversheds Sutherland (US) LLP, Fraud, Uniform Commercial Code (USA)
On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Ramekerthat an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded from a bankruptcy estate on that basis.