Patterson versus Shumate financial definition of Patterson versus Shumate
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Patterson v. Shumate

(redirected from Patterson versus Shumate)

Patterson v. Shumate

A 1992 court case in the United States holding that assets one holds in a pension or other investment vehicle on which transfer is restricted may not be surrendered in bankruptcy. That is, these assets may not be liquidated and distributed to creditors.
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