Can a Liquor License be a Tool of Trade?
Posted: Thu Mar 15, 2012 8:51 pm
I would certainly try. Let us know how it goes. I put on a test once that the debtor had a laptop where he kept his gambling records. By the way, read the code section on tools of the trade. It says a lot more than that. Jon
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> I am about to file a Chapter 7 case for a couple that owns and operates a small restaurant as a parnership. I can't find any authority on whether their liquor license can be exempted under 704 as a tool of trade. The closest thing I found is a bankruptcy case from Pennsylvania holding that a liquor license does not qualify as a tool of trade, but this is a state law/California issue. Should I just list it as exempt and put the burden on the Trustee to object? Any experience with this issue that you can share would be much appreciated.
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> Thanks,
> Natella
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