A fellow attorney recently asked me this question because the Trustee kept continuing his Chapter 7 client’s meeting of creditors under 11 U.S.C. § 341(a). What’s a work here?
By the way, you may wonder if fellow attorneys really are asking me these questions that I answer in the blog. The answer is, yes. Most of the questions I have dealt with in previous posts were posed to me directly by fellow attorneys. However, a few of the questions I’ve blogged about were originally posed on a list serve of which I am a member, and I happened to be the one who answered them. You are the beneficiaries of those answers.
I. Abandonment Of Assets
A. The Bankruptcy Code’s Provision
The Bankruptcy Code has an entire section dealing with abandonment of assets by a bankruptcy trustee. (This is not the same as dealing with abandonment issues, which require the services of a competent, licensed psychiatrist to resolve.) That section is 11 U.S.C. § 554. The portions that are relevant to answering my colleague’s question are §§ 554(b) and (c):