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The United States Trustee Program is a component of the United States Department of Justice that is responsible for overseeing the administration of bankruptcy cases and private trustees. [1] The applicable federal law is found at 28 U.S.C. § 586 and 11 U.S.C. § 101 , et seq.
In the United States, a Trustee in Bankruptcy is a person who is appointed by the United States Trustee Program, a division of the United States Department of Justice. In limited circumstances, the creditors involved in a bankruptcy case can elect a trustee.
For all bankruptcies (consumer or business) filed under Chapter 7, 12 or 13 of Title 11 of the United States Code (the Bankruptcy Code), a trustee (the "trustee in bankruptcy" or TIB) is appointed by the United States Trustee, an officer of the Department of Justice that is charged with ensuring the integrity of the bankruptcy system and with ...
This category is for persons who have held the office of United States Trustee, as well as other articles related to the United States Trustee Program. Pages in category "United States Trustees" The following 2 pages are in this category, out of 2 total.
The trustee must also keep adequate records of the administration of the trust generally. [66] All trust property must stay separate from the trustee's own personal property and must not be "commingled." [67] A trustee can hold certain securities, usually publicly traded ones, in a "street name" or nominee registration for ease of management. [68]
According to the United States Trustee Manual, volume 5, chapter 5, the following are warning signs of a petition mill scheme: Pro se bankruptcy petition where the debtor says no one assisted him/her, [jargon] but the debtor is clearly unfamiliar with the bankruptcy system; Pro se petition filed despite the debtor denying filing bankruptcy [jargon]
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Interim trustee is a term of art in section 701 of the Bankruptcy Code, Title 11 of the United States Code. When a case under Chapter 7 of the Code is commenced, the United States Trustee immediately appoints an interim trustee for that case. [ 1 ]