Gino Ferri

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IT IS ORDERED
Date Entered on Docket: March 26, 2014

Rola Be ae

The Honorable Robert HJ acobvitz
United States Bankruptcy J udge

UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW MEXICO

Inre:
GINO FERRI, Case No. 7-08-12397-JL
Debtor.

ORDER ON MOTION TO COMPEL TRUSTEE’S ABANDONMENT OF ASSETS
PURSUANT TO 11 U.S.C. 8554

This matter came before the court on the Debtor’s Motion to Compel Trustee’s
Abandonment of Assets Pursuant to 11 U.S.C. §554, filed on July 3, 2013, as Doc. #288 (the
“Motion’’), the Trustee’s Response to the Motion, filed on July 25, 2013 as Doc. # 293, and
Creditor, Henry Houde’s (“Houde’s”) Objection to the Motion, filed July 25, 2013 as Doc. #
294. The Court being fully advised in the matter hereby finds:

1. The Motion was filed on July 3, 2013, by which the Debtor sought to compel the
Trustee to abandon the remaining property under his control and that all such property be

retumed to the Debtor.

INFORMATION
GPO

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2. As shown on the notice filed on June 10, 2013 as Doc. No. 289, (the “Notice”) the
Motion was served on all persons listed on the mailing matrix kept in this case on June 8, 2013.
3. The Notice provided that any party objecting to the Motion must file an objection
within 14 days of service of the Motion.
4. The Notice was pursuant to the rules and appropriate in this circumstance.
5. Prior to the filing of the Motion, Kieran F. Ryan the previous trustee liquidated
certain assets of the estate and Philip Montoya, the current Chapter 7 trustee (the “Trustee”), still
holds the funds from these sales (the “Funds”).
6. The Trustee has evaluated the status of various companies owned by the Debtor
(the “Companies”) and in his business judgment he has determined that the debts and obligations
of the Companies far exceed the value of the assets of the Companies, and such assets and the
Companies are burdensome and not beneficial to the estate.
7. Based on his business judgment, the Trustee has also determined that the various
state court litigation involving the Debtor and his companies (together, the “State Court
Litigation”) is of inconsequential value and burdensome to the estate.
8. The Trustee has evaluated the remaining assets of the Debtor and has determined
that the only remaining beneficial assets of the estate are certain guns currently in the possession
of the auctioneer in this case, and more particularly described in the list attached hereto as
Exhibit A (the “Remaining Assets”).
9. The Debtor does not claim an exemption in the Funds or Remaining Assets.
10. The only objections to the Motion were filed by the Trustee and Houde. As
shown by their consent below, this order resolves the Trustee’s and Houde’s objections.
IT IS ORDERED as follows:
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A. The Funds and the Remaining Assets are deemed property of the estate, the
Debtor does not claim the Funds or the Remaining Assets as exempt, and such assets are to be
administered by the Trustee accordingly.
B. The Companies, the State Court Litigation, and any other assets of the Debtor not
specifically identified in paragraph A are deemed abandoned by the Estate.
C. The Debtor shall not be liable for storage costs incurred for storage on any of the
abandoned assets or any other administrative expense, and any abandoned assets held by any
third parties on behalf of the trustee shall be immediately released to the Debtor or his authorized
representative.
D. Upon entry of this Order, the Restraining Order entered in Adversary Proceeding
13-1067-j shall be void and of no further effect and the Trustee shall submit an Order of
Dismissal of that proceeding with prejudice.
SO ORDERED
**END OF ORDER**
Submitted by:
WALKER & ASSOCIATES, P.C.
By: __s/ Samuel I. Roybal_______
Thomas D. Walker
Samuel I. Roybal
500 Marquette Ave. NW, Suite 650
Albuquerque, NM 87102
(505) 766-9272
Attorneys for Chapter 7 Trustee
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Approved:
_Approved by email 3/24/2014_______
R. “Trey” Arvizu
Attorney for Debtor P.O. Box 1479
Las Cruces, NM 88005
(575) 527-8600
(575) 527-1199 fax
trey@arvizulaw.com
Approved as to Form:
LAW OFFICE OF KELLY ALBERS, P.C.
By:_ approved telephonically 3/26/2014______
Kelly P. Albers
650 Montana, Suite D
Las Cruces, NM 88001
(575) 527-9064
Attorney for creditor Henry Houde
Case 08-12397-j7 Doc 308 Filed 03/26/14 Entered 03/26/14 15:05:19 Page 4 of 5

LOTW
Manufacturer
Model
Type
Serial #
Cal
·
4-19
RUGER
BEARCAT
Rev.
91-62751
21
.
4-12 H SCHMIDT
REV
616158
22
.
4-17 BERRETA
950 BS
PISTOL
974287
22
.
4-44
SMITH & WESSONB & W
REV
14539
44
.
4-62R WINCHESTER
70
RIFLE
384361
308
4-82R WINCHESTER
84
RIFLE
2NRA631
30-30
·
4-83R WINCHESTER
94
RIFLE
6318608
30-30
.
4-106R REMINGTON
870
SG
T319184M
12GA
4-108R
REMINGTON
700
RIFLE
B6885298
243
·
4-121R
BROWNING
SG
01362DU099
12GA
4-122R BROWNING
SG
736
12GA
.
4-13IR REMINGTON
870
SG
T319211M
12GA
..
4-135R REMINGTON
1100
SG
M438512V
12GA
.
4-142R WEATHERBY
300
RIFLE
SB051469
300
4-146R
WINCHESTER
190
RIFLE
B1794525
22
.
4-147R
WEATHERBY
MARK V
RIFLE
SB065564
416
..
4-152R
WINCHESTER
6
RIFLE
615082B
22
.
4-153R
WINCHESTER
94
RIFLE
41279
32-40
4-154R
WINCHESTER
94
RIFLE
AG480
30-30
4-158R WINCHESTER
70
RIFLE
266203
270
4-176R
WINCHESTER
94
RIFLE
2NRA501
30-30
EXHIBIT
A
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