In Re Raymond R. Olsen, Debtor. John R. Olsen v. Gordon Zerbetz, Trustee
Opinion
Opinion
Wiggins, J.
John R. Olsen wants to know for whom the statute tolls; it tolls for thee. The two-year limitation period on the bankruptcy trustee’s action to void a postpetition transfer of estate property was equitably tolled by the petitioner’s conduct.
Raymond and Gladys Olsen (Olsens) were sole owners of Olsen & Sons Logging, Ltd. (O & S). In the summer of 1984, both the Olsens and O & S filed for Chapter 11 relief. The Olsens listed some real properties on their bankruptcy schedules. Both Chapter 11 cases were converted to Chapter 7 liquidations in September, 1987.
In March, 1989, without approval from the bankruptcy court or notice to the trustee, the Olsens conveyed their interest in the listed properties to their son John (Appellant) and his wife Olivia. In October 1991, the trustee sought and obtained an order voiding the conveyances under 11 U.S.C. § 549 as a post-petition transfer of estate property and an order under § 542 instructing Appellant to return the properties to the estate. The district court affirmed.
We have jurisdiction under 28 U.S.C. § 158 (d). We review de novo conclusions of law of the bankruptcy and district courts. In re Frontier Properties, Inc., 979 F.2d 1358…