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Standing to pursue nondisclosed prepetition claims post
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You are correct on all points.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Mark T. Jessee
Sent: Wednesday, April 29, 2009 10:37 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Standing to pursue nondisclosed prepetition claims post
discharge/case closure
Am I correct that a former debtor does not have standing to pursue a cause
of action in state court post discharge for a prepetition claim that was not
disclosed in the Chapter 7 schedules or statements? Section 554(c) only
abandons property back to the debtor at the close of the case that is
scheduled and 554(d) confirms that the asset remains property of the estate.
I know the defendant can raise an equitable estoppel defense if the debtor
knew of the claim and did not list it as an asset, but we never get to that
if the debtor does not have standing to sue on a claim that still belongs to
the estate.
Am I right the only way around this would be for the debtor to seek
reopening the case to disclose and exempt the claim if in fact the asset was
either unknown to debtor or somehow innocently overlooked and then pursue
the cause of action once the estate is closed a second time and the trustee
chooses not to administer the asset?
Mark Jessee
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Message
You are correct on all
points.
David A.
Tilem
Certified Bankruptcy
Specialist*
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