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Posted by / 19-Aug-2020 17:50

Fees for liquidating trustee

This website uses cookies to store information on your computer.Some of these cookies are used for visitor analysis, others are essential to making our site function properly and improve the user experience.Those additional duties included administering pension plans of corporate debtors, ensuring that persons to whom a debtor may owe child support receive proper notice of the debtor’s bankruptcy, confirming a debtor properly understands reaffirmation agreements and the consequences of his or her bankruptcy filing, and reviewing a debtor’s tax returns.

The non-exempt property can be real estate or personal property, e.g., motor vehicles or an income tax refund.

The Trustee collects assets of the debtor that are not exempt under the Bankruptcy Code, liquidates the assets, and distributes the proceeds to creditors.

Trustees are not government employees, however, they work in concert with the United States Trustee and the bankruptcy courts to ensure the efficiency and integrity of the bankruptcy system.

Trustees are often referred to as “panel trustees” because they are appointed by the United States Trustee to a panel in each judicial district.

Once Trustees are appointed to the panel, chapter 7 cases generally are assigned through a blind rotation process.

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