In re Willis Enters.
Sep
10
2012
Ruling
Bank's motion for abandonment of funds denied due to failure to promptly assert lien rights after turnover to trustee.
Procedural posture
A bank turned over funds in a bankruptcy debtor's deposit account to a bankruptcy trustee, and the bank claimed a security interest in the funds. Pursuant to 11 U.S.C.S. § 554(b), the bank moved to compel the trustee to abandon the funds which were of inconsequential value to the bankruptcy estate.
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Court
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