Local Rule Rule 6007-1: Abandonment or Disposition of Property Abandoning or Disposing of Property.

Rule 6007-1. Abandonment or Disposition of Property Abandoning or Disposing of Property.

(a) Notice by the Trustee or Debtor in Possession of proposed abandonment or disposition; objections; hearing.

(1) (3) No Asset Notice.

In a chapter 7 case in which a Notice of Chapter 7 Bankruptcy Case, Meeting of Creditors, & Deadlines (i.e., the 341 notice) containing language advising parties not to file a proof of claim is issued, and is not superseded by a Notice to File Proof of Claim, the trustee or debtor is relieved of the requirement of giving notice of abandonment or disposition of property under Fed. R. Bankr. P. 6007(a).

(2) (4) Property Value.

The trustee or debtor is relieved of the notice requirement imposed by Fed. R. Bankr. P. 6007(a), when the proposed abandonment relates to scheduled property which the trustee determines is burdensome to the estate or is of inconsequential value to the estate.

(b) Motion By a Party in Interest.

An abandonment of property, by itself, does not affect the automatic stay. Therefore, when a motion which includes a request to have the trustee abandon the property from the estate pursuant to section 554(b) is filed, the moving party ordinarily should also seek relief from the automatic stay pursuant to section 362(d). If relief from the automatic stay is sought, the moving party shall comply with the requirements of Miss. Bankr. L.R. 4001-1(a)(1)(B).

(c) Agreed Orders.

If the creditor, the debtor(s) and the trustee agree as to relief from the automatic stay as well as abandonment, then the submission of an agreed order shall be governed by Fed. R. Bankr. P. 4001(d) and Miss. Bankr. L.R. 4001-1(a)(1)(D).