Legal Question in Bankruptcy in Virginia

Assets not listed in Bankruptcy

If a bankruptcy was filed in 1999 and discharged in 1999 - a single person, chapter 7 and the petitioner did not list all of their assets (i.e. rental property, business and vehicles) in an attempt to defraud the bankruptcy court what happens to those assets that were not listed? Has the petitioner lost and waived all rights and ownership to those assets? And if so, would they then become the whole and sole property of his spouse?

My spouse did the above and we are now going through a divorce. Would these undisclosed items/assets be 100% mine and no longer considered marital property? Please note that I did not file bankruptcy with him and these items were bought with marital funds during our marriage. If so, could you please give me some case law and/or cite some statutes for Virginia law that would be of use to me? Thank you soooo much, Kelley


Asked on 3/26/01, 8:01 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Assets not listed in Bankruptcy

The undisclosed assets remain part of the bankruptcy estate. They are not yours. Your divorce lawyer, if not familiar with bankruptcty law, should contact an experienced bankruptcy lawyer for advice on how best to proceed.

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Answered on 5/31/01, 12:32 pm


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