Unless the Trustee has formally abandoned (given back) assets to the debtor prior, they belong to the Trustee until the bankruptcy case is CLOSED, which occurs after the discharge is entered. If the Trustee does not file a “no-asset report” then the case will not close.

What assets do not vest in a trustee in bankruptcy?

Alberta – Exempt Property

• Food for a 12 month period.
• Clothing up to $4,000.
• Household furniture and appliances up to $4,000.
• One motor vehicle up to $5,000.
• Equity in your principal residence up to $40,000, reduced to your share if you are a co-owner.
• Tools of your trade up to $10,000.

What does trustee discharge mean?

Well first, the trustee can apply to the court for his discharged. This means he is no longer administering your bankruptcy. Once the trustee is discharged, all of the original creditors are able to come back.

Can a trustee object to a bankruptcy discharge?

A trustee can object to a discharge if there’s been some amount of fraud in the bankruptcy case. When you’re filing for bankruptcy, you are asking for equitable relief and under the law. Under the “Clean Hands Doctrine” if you are asking the bankruptcy court for equitable relief, you are required to be honest with the court.

What happens to my bankruptcy case after I receive a discharge?

If you successfully complete your bankruptcy case, you will receive a discharge that wipes out your personal liability for most types of debt. In most cases, the court will close your case shortly after it enters your discharge.

Can a trustee revoke or take back a discharge?

The trustee can revoke your discharge. If the trustee finds hidden assets, the trustee can ask the court to revoke or take back your discharge. The trustee can do this at any time before the case closes or, even after, up to one year after the discharge date.

Can a bankruptcy trustee ask for the case to be reopened?

In general, you, the bankruptcy trustee, or any other party in interest (such as a creditor) may ask the court to reopen your bankruptcy case. The basis for reopening a bankruptcy will typically depend on which party is making the request (discussed below).