In re Holliday
Aug
31
2006
Ruling
Unscheduled judgment claim against third party was not abandoned upon closing of no asset case.
Procedural posture
After debtor's chapter 7 bankruptcy proceeding was closed on a "no asset" determination, the trustee filed a motion for a redetermination of the estate's assets based on debtor's ownership of judgments against a third party (maker) that arose from a prepetition cause of action. At issue was whether the claim against the maker had been abandoned by operation of law under 11 U.S.C. § 554(c).
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Court
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