Local Rule 6007-1: ABANDONMENT OF PROPERTY
Bankr. W.D. Tenn. — General rule
TNWB LBR 6007-1 ABANDONMENT OF PROPERTY
(a) No Asset Chapter 7 Cases. In Chapter 7 cases in which the debtor estimates that no assets will be available for distribution to unsecured creditors, the Clerk will issue a Notice of Chapter 7 Bankruptcy Case–No Proof of Claim Deadline (Official Form 309A) which will give notice to creditors that the trustee may abandon property at or after the Meeting of Creditors. In that event, no additional notice of the trustee's intent to abandon property is required. See Bankruptcy Code § 554 and Fed. R. Bankr. P. 6007(a).
(b) Notice Requirements – Asset Cases.
(1) Property Valued Under $2,000. Notwithstanding Bankruptcy Code § 554 and Federal Rule of Bankruptcy Procedure 6007(a), a trustee or debtor in possession need not give notice of abandonment of property with a net value to the estate of less than $2,000 per item and less than $5,000 in the aggregate.
(2) All Other Instances. In all other instances, any party seeking abandonment of property of the estate should file a motion to compel abandonment that conforms to TNWB LBR 9013-1.