In Re Michael E. Woodson, Debtor. Michael E. Woodson, Debtor-Appellant v. Fireman's Fund Insurance Company, Fireman's Fund Insurance Company v. Michael E. Woodson, Debtor-Appellee

839 F.2d 610 56 USLW 2486 , 18 Collier Bankr.Cas.2d 674 , Bankr. L. Rep. P 72,197 In re Michael E. WOODSON, Debtor. Michael E. WOODSON, Debtor-Appellant, v. FIREMAN'S FUND INSURANCE COMPANY, Appellee. FIREMAN'S FUND INSURANCE COMPANY, Appellant, v. Michael E. WOODSON, Debtor-Appellee. Nos. 86-1524, 86-2775. United States Court of Appeals, Ninth Circuit. Argued July 16, 1987. Submitted Aug. 17, 1987. Decided Feb. 16, 1988. Margaret Sheneman, Murphy, Weir & Butler, San Francisco, Cal., for appellant Fireman's Fund Ins. Co. Sheridan Downey, II, Bell, Rosenberg & Hughes, Oakland, Cal., for debtor-appellee Michael E. Woodson. Appeal from the United States District Court for the Northern District of California. Before ANDERSON, NORRIS and KOZINSKI, Circuit Judges. KOZINSKI, Circuit Judge: 1 We consider procedural and substantive questions raised by a creditor's objection to a debtor's claim that the proceeds of his deceased wife's life insurance policy, received within 180 days after filing for bankruptcy, are exempt assets under federal and California law. FACTS 2 On August 24, 1984, Michael Woodson filed a petition for a chapter 11 reorganization. Three days later, Woodson's…