Fed. R. Bankr. P. 6010

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Rule 6010 - Proceeding to Avoid Indemnifying Lien or Transfer to Surety

If a lien voidable under §547 of the Code has been dissolved by the furnishing of a bond or other obligation and the surety thereon has been indemnified by the transfer of, or the creation of a lien upon, nonexempt property of the debtor, the surety shall be joined as a defendant in any proceeding to avoid the indemnifying transfer or lien. Such proceeding is governed by the rules in Part VII.

11 APPENDIX U.S.C. § 6010

As amended Apr. 30, 1991, eff. Aug. 1, 1991.

NOTES OF ADVISORY COMMITTEE ON RULES-1983This rule is derived from former Bankruptcy Rule 612.

NOTES OF ADVISORY COMMITTEE ON RULES-1991 AMENDMENTThis rule is amended to conform to §550(a) of the Code which provides that the trustee may recover the property transferred in a voidable transfer. The value of the property may be recovered in lieu of the property itself only if the court so orders.