Bankruptcy - Restrictions on Abandonment of Burdensome Property - MidAtlantic National Bank v. New Jersey Department of Environmental Protection
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Authors
Carlson, Darren R.
Issue Date
1987
Volume
20
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
INTRODUCTION|Section 554(a) of the Bankruptcy Reform Act of 1978 ("Bankruptcy Code" or "Code") codified the common law doctrine of abandoment, which permits the trustee in bankruptcy to abandon burdensome property of the estate. In the recent case of Midatlantic National Bank v. New Jersey Department of Environmental Protection, the United States Supreme Court addressed for the first time the scope of the newly codified abandonment doctrine. |This Note analyzes the Midatlantic decision and other cases in which courts have attempted to define the scope of the abandonment power. Furthermore, this Note discusses the restrictions, codification, and purpose of the abandonment doctrine. This Note also demonstrates that the grounds upon which the court relied for its decision in Midatlantic do not warrant the imposition of a restriction on the right to abandon burdensome property...
Description
Citation
20 Creighton L. Rev. 165 (1986-1987)
Publisher
Creighton University School of Law