No. 18-135

New Products Corporation v. Thomas R. Tibble, et al.

Lower Court: Sixth Circuit
Docketed: 2018-07-31
Status: Denied
Type: Paid
Response Waived
Tags: bankruptcy-code-section-704 bankruptcy-trustee-duty estate-property estate-property-protection gross-negligence lien-valuation negligence property-abandonment property-damage secured-creditor secured-creditor-rights
Latest Conference: 2018-09-24
Question Presented (from Petition)

Does a trustee's duty to be accountable for all estate property continue for all estate property which the trustee has chosen not to abandon and is therefore liable for while the property is in his custody ? Or, as the Sixth Circuit has held in an unprecedented decision , is a bankruptcy trustee insulated from liability for the loss or destruction of estate property caused by the trustee's own negligence if the estate property has liens against it that may equal or exceed the market value ?

Question Presented (AI Summary)

Does a bankruptcy trustee have a duty to protect estate property from damage or destruction while in the trustee's custody?

Docket Entries

2018-10-01
Petition DENIED.
2018-09-05
DISTRIBUTED for Conference of 9/24/2018.
2018-08-28
Waiver of right of respondent Thomas R. Tibble, individually and Federal Insurance Company to respond filed.
2018-08-28
Waiver of right of respondent Laura Genovich, in her capacity as successor Chapter 7 Trustee for the Bankruptcy Estate of Modern Plastics Corporation to respond filed.
2018-07-23
Petition for a writ of certiorari filed. (Response due August 30, 2018)

Attorneys

Laura Genovich, in her capacity as successor Chapter 7 Trustee for the Bankruptcy Estate of Modern Plastics Corporation
Conor Brendan DuganWarner Norcross & Judd LLP, Respondent
New Products Corporation
Lisa Michelle OkasinskiDemorest Law Firm, PLLC, Petitioner
Thomas R. Tibble, individually and Federal Insurance Company
Cody Harris KnightRayman & Knight, Respondent