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Asset case closed
In a message dated 3/10/2009 11:21:37 AM Pacific Daylight Time,
sblever@leverlaw.com writes:
I have a case that the Chapter 7 Trustee declared it an asset case. He
never let me know what the assets were despite phone calls and a letter. Today,
the NEF informed me the case was closed.
Prior to this I was considering a Motion for Abandonment rather than have as
asset case hanging over my clients head indefinitely.
Does this case closing relieve him of the spectre of the Trustee coming toclaw back assets later?
11 U.S.C. 554 c states: (c) Unless the court orders otherwise, any
property scheduled under section _521_
(http://www.abiworld.org/wiki/usc_sec_11 ... -000-.html) _(1)_
(http://www.abiworld.org/wiki/usc_sec_11 ... 00-.html#1) of this title not otherwise administered at the time of the
closing of a case is abandoned to the debtor and administered for purposes of
section _350_ (http://www.abiworld.org/wiki/usc_sec_11 ... -000-.html)
of this title.
Does this mean were out of the woods without a motion? I imagine the
Trustee would have to reopen the case to administer assets, but I think he can
only do so for undisclosed assets.
Thank you
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456
>( Fax (562) 684-0202
>* sblever@leverlaw.sbl
> _www.leverlaw.www_ (http://www.leverlaw.com/)
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The closing order will be vacated. Apparently, many were closed by mistake.
Law Office of Eric Alan Mitnick
21515 Hawthorne Boulevard, Suite 1080
Torrance, CA 90503
(310) 792-5864; 792-5866 (fax)
MitnickLaw@aol.com
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The post was migrated from Yahoo.
I have a case that the Chapter 7 Trustee declared it an asset case. He
never let me know what the assets were despite phone calls and a letter.
Today, the NEF informed me the case was closed.
Prior to this I was considering a Motion for Abandonment rather than have as
asset case hanging over my clients head indefinitely.
Does this case closing relieve him of the spectre of the Trustee coming to
claw back assets later?
11 U.S.C. 554 c states: (c) Unless the court orders otherwise, any
property scheduled under section 521
(1)
of this
title not otherwise administered at the time of the closing of a case is
abandoned to the debtor and administered for purposes of section 350
of this
title.
Does this mean were out of the woods without a motion? I imagine the
Trustee would have to reopen the case to administer assets, but I think he
can only do so for undisclosed assets.
Thank you
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456
>( Fax (562) 684-0202
>* sblever@leverlaw.com
> www.leverlaw.com
> ******************************************************
> This Internet e-mail contains confidential information
> which is intended only for the addressee and which may
> be privileged under applicable law. Do not read, copy
> or disseminate it if you are not the addressee. If you
> have received this message in error, please notify the
> sender immediately and delete it. Thank you.
> ******************************************************
The post was migrated from Yahoo.