Can anyone point me to a good resource on leases (rejection/assumption),
Posted: Wed Apr 06, 2011 1:02 pm
Debtor has a pending state court cause of action for rescission of a lease.
Now he is in a Chapter 7 and has to either "assume or reject" the lease. He
doesn't have money to assume it, but if he rejects it, does that somehow
waive the rescission claim? I understand that the claim belongs to the
estate until or unless it is abandoned, but I have not yet been able to
speak with the trustee, and we haven't had the 341A yet so I don't know his
position. The statement of intent is due on the same day as the 341A. I am
really not sure what to put on the statement of intent, or whether I should
apply for more time to file it or for more time to assume or reject.
Can anyone here provide a little guidance and/or point me to a good resource
on leases (rejection/assumption), rescission, and bankruptcy?
Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
Debtor has a pending state court cause of action for rescission of a lease. the lease. He doesn't have money to assume it, but if he rejects it, does that somehow waive the rescission claim? I understand that the claim belongs to the estate until or unless it is abandoned, but I have not yet been able to speak with the trustee, and we haven't had the 341A yet so I don't know his position. The statement of intent is due on the same day as the 341A. I am really not sure what to put on the statement of intent, or whether I should apply for more time to file it or for more time to assume or reject.
Can anyone here provide a little guidance and/or point me to a good resource on leases (rejection/assumption), rescission, and bankruptcy?-- Holly Roark
holly@roarklawoffices.com
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
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