Co-Authored by Gregory J. Flasser
Section 542 of the Bankruptcy Code generally requires a noncustodial entity who has possession, custody, or control of property of the estate that the trustee may use, sell, or lease under § 363, or that the debtor may exempt under § 522, to deliver to the trustee the property or the value of the property, and to account for such property. 1 Section 543 similarly requires a custodian with knowledge of the commencement of the case to deliver such property and the proceeds of such property to the trustee and account for such property. 2 This paper reports on opinions regarding turnover published since the 2017 Annual Survey.
To read the article, click here.
This article appears in the Norton Annual Survey of Bankruptcy Law & Practice, 2018 Edition, and is posted with permission. Copyright © 2018 Thomson Reuters/Westlaw. For more information about this publication please visit http://legalsolutions.thomsonreuters.com/.