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In limited circumstances, the creditors involved in a bankruptcy case can elect a trustee. In a Chapter 7 Bankruptcy ("Liquidation") the trustee gathers the debtor's non-exempt property, managing the funds from the sale of those assets, and then paying expenses and distributing the balance to the owed creditors.
The United States District Court for the District of Georgia was one of the original 13 courts established by the Judiciary Act of 1789, 1 Stat. 73, on September 24, 1789. [2] The District was subdivided into Northern and Southern Districts on August 11, 1848, by 9 Stat. 280 .
Bankruptcy courts appoint a trustee to represent the interests of the creditors and administer the cases. The U.S. Trustee [3] appoints Chapter 7 trustees for a renewable period of 1 year, Chapter 13 trustees are "standing trustees" who administer cases in a specific geographic region.
In'In re Gaither,' the U.S. Bankruptcy Court for the District of South Carolina held that Bankruptcy Code Section 544(b) permitted a trustee to step into the shoes of the Internal Revenue Service ...
Accounting staffers within the Trustee's office review all debtor filings, and monitor trustee and attorney fees in all cases. Attorneys employed by the Trustee represent the office in United States bankruptcy court and pursue civil sanctions for some egregious violations of the law in Chapter 7, 12 and 13 cases.
A bankruptcy judge has ruled that Rudy Giuliani, the once-respected former mayor of New York City, can appeal the $146 million verdict after he was found liable for defaming two Georgia elections ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
A group of people and businesses who say they are owed money by Rudy Giuliani gathered virtually Friday for the first court hearing since he declared bankruptcy last month after losing a ...