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Bankruptcy

 

Chapter 7 Panel Trustee

Learn about a central figure in chapter 7, the trustee, and her responsibilities to creditors, the debtor, and other parties in interest.

Transcript

In almost every federal district, the United States Trustee appoints and supervises a panel of private trustees. Once a chapter 7 case commences, the United States Trustee selects a member of that panel to serve as the case's interim trustee. If eligible creditors don't elect a different trustee, the interim trustee will become the permanent trustee in the case. In the rare event that creditors elect a different trustee, the interim trustee's service ends once the elected trustee is appointed...