Play video

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...

Lessons

    • 1. Welcome to Bankruptcy
    2. Foundations of Bankruptcy
    3. The Estate and the Automatic Stay
    4. Creditors, Claims, Discharge, and Priority
    5. Chapter 7 Liquidation
    • Chapter 7 Panel Trustee
    • Distribution of Estate Property in Chapter 7
    • Discharge in Chapter 7
    • Personal-Property Collateral in Chapter 7
    • General Grounds to Dismiss a Chapter 7 Case
    • Introduction to the Means Test and Dismissals or Conversions for Abuse
    6. Debt Adjustment in Chapter 13
    • Eligibility to File for Chapter 13
    • The Estate in Chapter 13
    • Introduction to the Chapter 13 Plan of Debt Adjustment
    • Terms Permitted in a Chapter 13 Plan
    • Chapter 13 Confirmation Requirements: Treatment of Secured Claims
    • Chapter 13 Confirmation Requirements: Treatment of Unsecured and Priority Claims
    7. Preferences
    • Introduction to Preferences
    • A Transfer to a Creditor or for a Creditor's Benefit Made for or on Account of an Antecedent Debt
    • A Transfer Enabling a Creditor to Receive More Than It Would in Chapter 7
    • The Net-Benefit Rule
    • Contemporaneous Exchanges for New Value
    • Transfers in the Ordinary Course of Business
    • Subsequent New Value