North Hollywood Bankruptcy Attorney

Abandonment

2011-12-04 20:53:43 Catalano v. CIR, 279 F.3d 682 (9th Cir. 2002)
An order lifting or modifying the automatic stay by itself does not constitute a defacto abandonment of the property of the estate. Procedures under § 554 must be followed before property is legally abandoned.

Cusano v. Klein, 264 F.3d 936 (9th Cir. 2001)
Listing of prepetition “songrights” in a value of “unknown” “was not so defective that it would forestall a proper investigation of the asset.” Accordingly, the right to post-petition royalties from these assets vested in the debtor upon confirmation of his chapter 11 plan. Unpaid prepetition royalties did not vest in the debtor, because they were subject to a separate listing requirement as causes of action.

In re Adair, 253 B.R. 85 (9th Cir. B.A.P. 2000)
Debtor had no ongoing duty to provide trustee with updated information regarding properly disclosed estate assets. (Case had been closed for 3 years).

In re DeVore, 223 B.R. 193 (9th Cir. B.A.P. 1998)
Order reopening case and withdrawing no-asset report does not negate a technical abandonment.

In re Johnston, 49 F.3d 538 (9th Cir. 1995)
Tax consequences to debtor are irrelevant in determination to abandon

In re Pace, 159 B.R. 890 (9th Cir. B.A.P. 1993), aff’d, 56 F.3d 1170 (9th Cir.1995), op amended and superseded on denial of rehearing 67 F.3d 187 (9th Cir. 1995), aff’d in part, vacated in part, 67 F.3d 187 (9th Cir. 1995)
Unscheduled assets are neither abandoned nor administered under 554(d)

In re Pace, 146 B.R. 562 (9th Cir. B.A.P. 1992)
Abandonment of a promissory note does not equal abandonment of a malpractice action.

In re Pauline, 119 B.R. 727 (9th Cir. B.A.P. 1990)
(abandonment prevents trustee's property-churning conduct)

In re Berg, 45 B.R. 899, 903 (9th Cir. B.A.P. 1984)
(when abandonment occurs)