California Appellate Tracker

City of Chicago v. Fulton (2021)

January 16, 2021

A creditor or other holder of property of the bankrupt estate does not violate the automatic stay (11 USC 362(a)(3)) by merely continuing to hold that property after the debtor files a bankruptcy petition. Instead, 11 USC 542 governs the circumstances under which the bankruptcy court can compel a holder of property of the bankrupt estate to turn the property over to the trustee or debtor in possession. The automatic stay (11 USC 362(a)(3)) prohibits only affirmative acts to disturb the status quo regarding property of the estate as of the time the bankruptcy petition is filed.

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California Appellate Tracker

City of Chicago v. Fulton (2021)

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