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In re Smith-Douglass, Inc.
United States Court of Appeals for the Fourth Circuit
856 F.2d 12 (1988)
- Written by Steven Pacht, JD
Facts
Smith-Douglass, Inc. (Smith) (debtor) was in bankruptcy proceedings. Pursuant to 11 U.S.C. § 554, Smith’s bankruptcy trustee sought to unconditionally abandon certain property that required environmental cleanup. The bankruptcy court, taking into consideration the Smith estate’s lack of unencumbered assets and the court’s determination that the environmental issues posed no threat of immediate public harm, granted Smith’s request. The district court reversed, ruling that Smith’s financial condition was irrelevant. Smith appealed.
Rule of Law
Issue
Holding and Reasoning (Merhige, J.)
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