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Collier Bankruptcy Practice Guide
 
Copyright 2016, Matthew Bender & Company, Inc., a member of the LexisNexis Group.


5-86 Collier Bankruptcy Practice Guide 86.syn


Title

Trustee's Duties

Author

Editors-in-Chief: Alan N. Resnick;and Henry J. Sommer

Chapter Summary


ABSTRACT TEXT:

This chapter, Trustee's Duties, will discuss the duties of a chapter 11 trustee from the standpoint of practice and procedure. The chapter considers the trustee's specific duties and how those duties are carried out. The chapter concludes with a brief discussion of the duties of an examiner.

Specifically, the chapter begins with coverage of the issue of acceptance by the trustee of appointment, obtaining and filing of the trustee's bond, approval of the trustee's bond, failure to obtain and file the trustee's bond, and duties of the trustee generally. The chapter addresses accountability of all money received and accountability for all property of the estate other than money. The chapter explores issues concerning the duty of the trustee to examine and object to improper claims, and the duty to supply information concerning the estate to the parties in interest. The chapter discusses periodic reports of the operation of the businesses, the final report and account of the trustee, and the duty to provide the applicable notices if there is a claim for domestic support.

The chapter considers the duty to perform the obligations required of the administrator if the debtor is the administrator of an employee benefit plan, the duty to use all reasonable and best efforts to transfer patients if the trustee is administering a health care business in the process of being closed, and the duty to file a list of creditors, schedules and statement of financial affairs. It also discusses the duty to investigate the acts and conduct, and financial condition of the debtor and the desirability of the continuance of such business. The chapter examines the duty to file a statement of investigation, the duty to perform the obligations of the debtor under either an unexpired lease of real or personal property, and the duty in a small business case. The chapter covers the duty in a single asset real estate case, the duty to file a plan or report why a plan cannot be filed, and the duty to supply tax information. The chapter also covers the duty to file postconfirmation reports, additional duties of the trustee, breach of duty and personal liability of the trustee, and the duties of a chapter 11 examiner.

The Collier Bankruptcy Practice Guide (Matthew Bender) is a strategic and procedural guide, which provides bankruptcy attorneys with a road map for their practice. It covers substantive and procedural law, including amendments to the Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. It provides strategic advice, checklists, forms, and research guides, as well as practice aids, which appear at the end of each chapter. It is organized in the sequence of bankruptcy litigation and highlights issues that arise each step of the way, reflecting the sequence of day-to-day practice. There are contributions from more than 40 prominent bankruptcy attorneys.

CORE TERMS:

Trustee,fraud,appeal,approved depositories,postconfirmation reports,surety bond.

RELATED CHAPTERS: (View)

See Chapter 4 for discussion of appointment of a trustee or examiner. See Chapter 12 for discussion of the case trustee issues. See Chapter 14 for coverage of involuntary proceedings in the context of Chapter 11 trustees. See Chapter 25 for discussion of appointment of a Chapter 7 trustee.

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