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Business Reorganization

District Judge Rejects the Majority’s ‘Gotcha’ Approach to Automatic Abandonment

Sufficiently listing an asset anywhere in the schedules and SOFA will result in abandonment if the asset was not administered by the trustee, Utah district judge holds.

Postpetition Default on a Mortgage Is a Prepetition Debt for Setoff Purposes

The obligation on a mortgage is incurred when the mortgage is granted, even though the payment default may occur after filing, Judge Thuma says.