He said the "quickest and cleanest" way to recover $190m so far claimed by creditors – including QN staff owed about $73m – was to pursue repayments from Palmer's joint venture companies that own the refinery.
On the contrary, assets in an IRA are subject to state law, and (depending on the type of IRA) can be claimed by creditors.
Besides [ex-wife]Alicia Duerson's $70,000 claim, creditors with unsecured claims include: the state of Wisconsin, with a $47,315 tax claim; Associated Bank, owed $4 million in a 2006 debt; Bank of America, $23,149 in credit card purchases; Greenline Capital Partners, with a 2006 promissory note of $9 million; and Kenosha Area Business Alliance, $573,502.
In about a quarter of the cases, borrowers thought they owed more than the creditors claimed, but in about 70percentthethe creditors asserted that the debt owed was greater than the amounts specified by borrowers.
As of March 2014, claimed to have creditor agreement with a plan to repay existing debt with the intention to resume the project, promising a final plan by the end of August 2014.
Mr Ingram has refused to grant Ms Young a creditors' meeting, granting her an official status in the 2010 bankruptcy of her ex-husband, who claimed to owe creditors about £28m.
A lawyer representing them claimed that the creditors had been harassed, and some had even received death threats.
Although property that the debtor might acquire later could be claimed by the creditors, he could not be deprived of the bare necessities.
The investment bank, one of the crumbling energy trader's main creditors, claimed that it has rights to Enron's assets.
The agency's claim of $2.2 billion is about half of the total claimed by all unsecured creditors.
