NACBA has filed an amicus brief before the United States Supreme Court in Schwab v. Reilly, No. 08-538.  In that case, the trustee, who failed to raise a timely objection to debtor’s exemption, later argued that the actual value of property debtor claimed on Schedule C was greater than the amount debtor claimed as exempt. The trustee sought to sell the property to distribute the non-exempt portion to creditors.  In its brief, NACBA argues that, taken in the context of the fresh start which is a primary purpose for Chapter 7 relief, a common sense reading of 11 U.S.C. §522(l) and Rule 4003 requires a time limit for objecting to debtor's claimed exemptions.