Whether an asset can be abandoned to a debtor where (1) the asset is not administered prior to the closing of the bankruptcy case; and (2) the asset is scheduled only in the 'statement of the debtor's financial affairs'?

QUESTION PRESENTED In Bankruptcy, as provided for in 11 U.S.C. §554(c), “unless the court orders , ; otherwise”, a trustee can abandon an asset to a debtor if the asset is both “scheduled under section 521(a)(1) of this title” and is “not otherwise administered at the time of the closing” of the bankruptcy case. | 11U.S.C. § 521(a)(1) refers to seven documents, including: “a list of creditors”; ; “a. schedule of assets and liabilities” ; “a schedule of current income and current expenditures”; and “a statement of the debtor's financial affairs”. In this case, the United States Court of Appeals for the Ninth Circuit held that “absent Trustee or court action, to be abandoned under §554(c), property must be scheduled on a schedule, not just listed on the [statement of the debtor’s financial affairs].” In so doing, the Ninth Circuit created a circuit-split and exposed millions of citizens to revocation of the “fresh start” provided for by the Bankruptcy Code. The Question Presented is: Whether an asset can be abandoned to a debtor where (1) the asset is not administered prior to the closing of the bankruptcy case; and (2) the asset is scheduled only in the “statement of the debtor’s financial affairs”? | | li