Can a bankruptcy trustee or debtor-in-possession seek turnover relief against an entity who has possession of the estate?
MultiRegion, United States of America
The following excerpt is from Shapphire Res., LLC v. Tambingon (In re Shapphire Res., LLC), Adv. No. 2:12-ap-02532-RK, Case No. 2:10-bk-57493-RK (Bankr. C.D. Cal. 2016):
A bankruptcy trustee or debtor-in-possession under 11 U.S.C. 542(a) may seek turnover relief against an entity (other than a custodian) who has possession of the property of the estate, or had possession of that property at some point during the bankruptcy case. Shapiro v. Hensen, 739 F.3d 1198, 1200-1204 (9th Cir. 2014), citing, 11 U.S.C. 542(a).
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