Appointing A Trustee
The bankruptcy court will appoint a representative who exercises statutory powers over the debtor's bankruptcy estate, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the U.S. trustee or bankruptcy administrator.
The trustee is a private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases and some chapter 11 cases. The trustee's responsibilities include reviewing the debtor's petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate. In chapter 7, the trustee liquidates property of the estate, and makes distributions to creditors. Trustees in chapter 12 and 13 have similar duties to a chapter 7 trustee and the additional responsibilities of overseeing the debtor's plan, receiving payments from debtors, and disbursing plan payments to creditors.
Where can I get legal advice about my Bankruptcy issue or case?
If you have a Bankruptcy Law issue or case and want legal advice for your specific situation, call the law firm below to schedule an initial consultation.
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