Worst case scenario, failing to list an asset can have serious consequences, including up to 5 years in prison and a $250,000 fine in egregious cases.
However, I have had clients not list assets accidentally, and I have not had issues when I went back in and amended the bankruptcy petition
to include the assets.
Also, since your asset did not have any significant value at the time you filed your case, it is not likely going to make the Bankruptcy Court
think you were fraudulently hiding some super valuable asset, making the Court much less likely to think this was anything other than an oversight.
We can't give any type of legal advice on this website, only information, but you should probably discuss the company with your attorney. He or she may advise you to reopen your bankruptcy to amend your Schedule B to list the company with the value it had at the time you filed your case, or he or she may simply contact the Trustee
to see if they think such an amendment is necessary considering that the company had minimal value.
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