PROPERTY IN NEED OF ATTENTION OR PROTECTION
AND TURNOVER OF INFORMATION AND PROPERTY

(a)  Inventory or Equipment.

When a stock of goods or business equipment is scheduled, the debtor shall, immediately after the general description thereof, list a present inventory, append a brief explanation of its exact location, the name and address of the custodian thereof, the protection being given such property, and the amount of fire and theft insurance, if any, and state whether prompt additional attention or protection is necessary.

(b)  Need for Immediate Action.

If a stock of goods includes perishables, or if there is any hazard to life or the environment, or if property or the business premises otherwise requires the trustee’s immediate attention or protection, the debtor or the debtor's attorney, shall immediately notify the trustee (if one has been appointed) of the need for immediate action.  Notification shall be by personal communication, telephone, or by other electronic communication.

(c)  Turnover of Information and Property

In all chapter 7 cases with primarily non-consumer debts, immediately following the appointment of a chapter 7 trustee, the debtor or the debtor’s attorney shall notify the trustee by personal communication, telephone or other electronic communication, and arrange to immediately turn over the following property of the estate to the trustee:

(1)  Information or things needed to gain entry to real property in which the debtor has an interest, excluding the debtor’s personal residence, including, but not limited to, keys, key cards, passwords, security codes, and the contact information for the managers, landlords, owners or tenants of the property; and

(2)  Information that will allow the trustee to contact any entity with which the debtor has accounts subject to the debtor’s withdrawal or order.

RELATED AUTHORITY

11 U.S.C. §§ 521(4), 704
Fed. R. Bankr. P. 4002

Advisory Committee Notes:

While this rule reflects current practice in many cases that fall within its scope, it is anticipated that the rule will provide the trustee with additional necessary information in a timely manner in other cases.  This rule is intended to ensure that trustees are alerted to conditions that may require immediate attention.  However, the rule is not intended to impose additional duties, or narrow any duties, required of debtors by the Bankruptcy Code.