[CLBS] Country Club membership

[Randal French]

Good point, except a Debtor does not have to affirmatively reject it, does he or she?  If the trustee does not assume it, it is rejected as a matter of law.  Does the bk code allow a  debtor to assume an executory contract that the trustee does not assume?

Also, do you believe that there is a difference between an unexpired lease and an executory contract?  Section 365(n) addresses executory contracts for which the debtor is a licensor, but not where the debtor is a licensee.  Section 365 allows a debtor to assume an unexpired lease of personal property, but only if the debtor follows specific steps to do so.  That by its terms does not apply to executory contracts.  

There may possibly be a gap as to a debtor's ability to assume an executory contract. 

Is this complicated by the fact, if it is a fact, that the debtor used the membership post-petition before surrendering it?

Food for thought.

-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of James Macdonald
Sent: Monday, February 24, 2014 9:30 AM
To: Jeff Rolig; clbs at admws.idaho.gov
Subject: Re: [CLBS] Country Club membership



Did the Debtor list it as an executory contract? If so, did the Debtor reject it?

Regards, 

James S. Macdonald

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-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Jeff Rolig
Sent: Friday, February 21, 2014 5:06 PM
To: clbs at admws.idaho.gov
Subject: [CLBS] Country Club membership

Debtor files Ch. 7 bkcy in Dec. 2009.  One estate asset is a country club membership, valued at $0.  Trustee supposedly held the debtor's CC stock certificate.  The country club was not listed as a creditor and had no notice of the filing.  Trustee abandoned the membership and the case was closed in December 2010.  Membership certificate was surrendered by the member sometime after that.  Can the debtor/member be sued (legally) for the accrued and unpaid 2010 country club annual dues?

Jeffrey E. Rolig
Jeffrey E. Rolig, P.C.
P.O. Box 5455
Twin Falls, ID 83303
Tele. 208-733-0075
Fax 208-733-0717
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