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Motion to abandon - no objection?

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    #1

    Motion to abandon - no objection?

    Quick background:

    - Ch 7 was filed Oct 2010. Discharged March 2011 but kept open as an assets case. "Assets" in question is a 25% share in a parent's Life Estate. Parent is still living and healthy.

    - Trustee has done zero zilch nada for almost two years, until the UST asked for an update on the file. TT then filed an answer two months after the UST request, in which she stated she "has had no offers above the value of the exemption amount, but anticipated being able to sell the interest in the Life Estate in the next year or so."

    - Client's atty filed a Motion to Compel Abandonment, and hearing is set for May 6th. Trustee had until yesterday (I believe) to file an objection. No such objection has been filed.

    Am I correct in thinking that this is headed in the right direction for the Motion to be granted? Or is the lack of an objection really a non-issue?
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    #2
    The lack of an objection means the motion will likely be granted.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment

      #3
      I agree with LITR. I also think your trustee must be part buzzard, to hang your case open on the hopes that your healthy (thank the Lord) parent suddenly drops dead. I'll bet the judge will have a choice comment or two.

      Will you be going to the hearing?
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

      Comment

        #4
        Originally posted by AngelinaCat View Post
        I agree with LITR. I also think your trustee must be part buzzard, to hang your case open on the hopes that your healthy (thank the Lord) parent suddenly drops dead. I'll bet the judge will have a choice comment or two.

        Will you be going to the hearing?
        It doesn't sound like the trustee was waiting for the parents to drop dead. She was hoping to sell btbeme's future interest in the property so that the buyer could sit around and wait for the parents to drop dead. Sick way to invest, but it does happen.

        TT then filed an answer two months after the UST request, in which she stated she "has had no offers above the value of the exemption amount, but anticipated being able to sell the interest in the Life Estate in the next year or so."
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

        Comment

          #5
          Not me, but my sister's Ch 7. And the Trustee did file a last-minute objection. More pain for the sis.

          I dropped an email to her attorney with some of my thoughts on the objection and the situation as a whole. It is somehow morbidly entertaining to pick apart the circular logic that often finds it way into an argument. So, sis will go fishing for a settlement; if unsuccessful, she will go all-in and let the judge decide if two plus years is long enough.

          Would love to post the details of the UST report, objection, and the anticipated answer. Not gonna do it until this is resolved, though.

          Comment

            #6
            Wow. This is on a par with those crazy carve outs. I hope that tt gets his head handed to him. I guess you gotta get creative nowadays to make money.
            Good luck and do keep us posted.

            Keep On Smilin'

            Comment

              #7
              Hey, I understand that a Trustee has an obligation to the creditors (and their own bank account). However, the untold details in this saga beg the question of whether the Trustee is indeed fulfilling their obligation, or whether their obligation to expediency and better judgement is being stressed to the limits. I know the Trustee Handbook specifically addresses that delays in administering the Estate are frowned on, as that tends to undermine the public trust in a system designed to help people get a fresh start. In this case, it seems more like a hostage situation.

              So, we shall see. A settlement offer is in the design stages (and so is the Answer to the Trustee's objection). I am not sure that the "public trust" argument will carry a lot of weight with the judge.

              Comment

                #8
                Motion denied. Judge says trustee can take whatever time necessary to maximize return for debtors.

                Over two and a half years and they still want crows to pick at the body.

                <sigh> My grandfather was 100% right...

                Comment

                  #9
                  Originally posted by btbeme View Post
                  Motion denied. Judge says trustee can take whatever time necessary to maximize return for debtors.

                  Over two and a half years and they still want crows to pick at the body.

                  <sigh> My grandfather was 100% right...
                  I'm so sorry to hear this

                  Comment

                    #10
                    Disgraceful. I'd think about going to the reporters with that before it starts a trend.

                    Keep On Smilin'

                    Comment

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