Bankruptcy Court defines Surrender Citing Roberto Duran, George Custer and Napoleon

Bankruptcy Court defines Surrender Citing Roberto Duran, George Custer and Napoleon

The Bankruptcy Court for the Northern District of Oklahoma recently reviewed the definition of “surrender” in a chapter 13 plan. In re Main, No. 17-10953 (Bankr. N.D..OK. Jan. 23, 2019).

The issue was raised by the debtor’s estranged spouse. The debtor’s plan provided to surrender his interest in their jointly owned condo to the lienholder. The non-filing spouse objected claiming her interest couldn’t be surrendered, the plan didn’t provide a particular manner of disposition of the condo, and that the plan should call for “abandonment” rather than “surrender”. Aside from her objection the plan had been approved by the chapter 13 trustee and paid 100% to general unsecured creditors.

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