Bankruptcy in Brief a service of the Moran Law Group Bankruptcy The court appointed official who administers the debtor's A Chapter trustee liquidates non property and distributes it according to the scheme of in the Code the trustee also considers whether there are or fraudulent transfers that can be recovered from which creditors can be paid The trustee may bring a motion to dismiss the case as an of the bankrutpcy system or to if the trustee finds evidence of fraud perjury or ineligibility A Chapter trustee reviews the debtor's plan and collects and distributes payments made by the Chapter debtor A is the debtor in a proceedings the DIP has the powers of the trustee under the Code and the responsibility to act as a for creditors N Shoreline Blvd Suite Mt View CA © Moran Law Group Founding member of the

Bankruptcy in Brief a service of the Moran Law Group Bankruptcy trustees who are these guys? Trustee is the term used for several different roles in the bankruptcy process Each has a separate job description Chapter trustee This is the person who administers cases His role is to determine whether there are assets to liquidate to review claims of exemption and the debtor's entitlement to a He is essentially a representative for the creditors as a group He is appointed by the an officer of the Department of Justice who oversees his performance He is not himself a government employee Trustees are frequently lawyers or accountants The trustee can file objections to claims of exemption or oppose the debtor's discharge but he doesn't decide those questions The judge decides disputed questions Trustees are paid in part from the filing fee paid to the court at the commencement of the case Any compensation they receive above that is a fee based on the money they handle as part of the estate If there are no funds in the estate at the end of the day the trustee gets only his per case Chapter Trustee The Chapter trustee is also a

Member Profile Michael A Grassmueck Serves in Portland OR Years as a trustee Cases per year Most memorable case I had a case in which I was in essence a landlord with a feed lien on cattle In order to have a la Bankruptcy News Delta Develops Comprehensive Compensation Program to Allow Employees to Share in Company's Future Success 'Travelers Casualty' Case Before U S Supreme Court Could Have Major Bankruptcy Ramifications Northwest Airlines to exit bankruptcy Bankruptcy judges back homeowners ALPA Condemns Comair Bankruptcy Ruling NABT News Attorney Trustee allowed to communicate directly with party represented by counsel Exemption in transferred equity limited by state’s homestead exemption cap What happens when no state exemption applies? Post petition disclaimer of inheritance unenforceable Revocation of Subchapter Selection avoidable by Trustee Reallocation of LLC membership interests violates the stay Debtor prevented from using new BAPCPA provisions to dismiss his own case Automatic dismissal for failure to file payment advices Trustee barred from pursuing disclosed assets in reopened case Trustee liability and immunity revisited and well explained One Windsor Cove Suite Columbia SC Fax Email

THE NATIONAL ASSOCIATION OF BANKRUPTCY TRUSTEES NABT OUR STORY The National Association of Bankruptcy Trustees is a nonprofit association formed in to address the needs of the bankruptcy trustees throughout the country and to promote the effectiveness of the bankruptcy system as a whole While the majority of the trustees who are members of the NABT are Chapter trustees who primarily liquidate nonexempt assets for the benefit of creditors many Chapter trustees also serve as Chapter trustees who operate and reorganize companies Some of our members are also Chapter trustees who handle farm bankruptcies or Chapter trustees who administer wage earner plans which provide a return to creditors primarily from the future income of our debtors Chapter trustees alone currently distribute approximately billion dollars each year to creditors and administer over one million cases annually There are approximately panel trustees in the country who are currently receiving new cases three quarters of whom are NABT members together with hundreds of associate members including judges United States Trustees auctioneers appraisers insurance agents bankers attorneys and accountants who frequently work with trustees The NABT provides a wealth of information and a common voice for panel trustees by issuing a quarterly publication

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