Lessor Repossession of Property on Eve of Lessee Bankruptcy

Voluntary Turnover or Face Contempt Lessors who repossess property immediately prior to a lessee bankruptcy filing may be required to return such property or face sanctions by the bankruptcy court. Federal courts are currently split on the issue of whether the lessor must voluntary surrender property seized pre-petition or may hold such property until such time as the debtor seeks, and obtains, an order of turnover.

5 minute readSeptember 01, 2019 at 12:09 AM
By
Theresa A. Driscoll
Lessor Repossession of Property on Eve of Lessee Bankruptcy

Lessors who repossess property immediately prior to a lessee bankruptcy filing may be required to return such property or face sanctions by the bankruptcy court. Federal courts are currently split

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