Please help me with this multiple choice question

[aarjang]

I'm getting ready for finals and I need someone to answer this for me:

Question: If a debtor fails to include an asset on his bankruptcy schedules

a. the asset remains property of the estate even after the bankruptcy case is closed

b. the debtor will not receive a discharge

c. the asset will remain property of the estate until the case is closed

d. The Trustee will file a motion to dismiss the bankruptcy case

e. Creditors may pursue the asset without getting relief from the automatic stay

[DeadManCrawling]

B and D seem to apply, but depend on district and whether it is a 7 or 13. Also, the value of the asset is relevant:

A 300k checking account is viewed differently than a 300 dollar watch.

Also depends on the judge.

You may have been given a trick question. If the trustee files to dismiss, the debtor is ALSO denied a discharge. So it could be either OR both.

[aarjang]

Thanks

I had a feeling (a) was correct, but I'm not even sure if the answer is legally sound. Does the asset remain property of the estate after the case is closed? I have it somewhere in my notes but I can't find it.

[music12]

the question is phrased so inaccurately that it's really impossible to choose one answer. who is wriiting these stupid exams?? and actually, what are you studying for?

if i had to choose one answer, i'd choose a). b) and d) would happen only if it is also proven that the debtor failed to mention the asset on purpose, to hide it from creditors. c) and e) are wrong.