Lovald v. Falzerano, et al., No. 11-6036 (8th Cir. 2011)
Annotate this CasePlaintiff, the Chapter 7 trustee, appealed the bankruptcy court's entry of a judgment in favor of defendants on his complaint seeking turnover under 11 U.S.C. 542 of money allegedly owed to the bankruptcy estate. The court held that while there was no clear error in the bankruptcy court's determination that defendants were not unjustly enriched and therefore, defendants were not indebted to the bankruptcy estate, the court affirmed on the more fundamental ground that the relief sought by the trustee was beyond the scope of 11 U.S.C. 542.
Court Description: Bankruptcy Appellate Panel. Turnover relief sought by the trustee was beyond the scope of 11 U.S.C. Sec. 542.
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