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Appointment of Examiner:
In a Chapter 11 case in which a trustee has not been appointed, the
court sometimes will order the appointment of an examiner, prior to
confirmation of a plan, to investigate any charges of fraud,
dishonesty, incompetence, or mismanagement on the part of the
debtor's present or former management.
The appointment is made by the United States trustee, who selects a
disinterested person other than himself. The debtor in possession,
however, retains the estate property and continues to operate the
business.
a. Reasons for appointment: When the appointment
of an examiner is requested by a party in interest or the United
Stales trustee, the court (after notice and a hearing) must order
that an examiner be appointed if the debtor's fixed, liquidated,
unsecured debts exceed $5 million, excluding debts for goods,
services, or taxes, and any debts owed to an insider. The existence
of large debenture debt is a good example of such a circumstance.
The court will also order the appointment of an examiner if the
appointment is in the best interests of creditors, equity security
holders, and the estate,.
b. Duties of examiner: An examiner's duties include the following:
(1) To investigate the debtor's conduct, financial condition, and
business operations, as well as the advisability of continuing the
debtor's business
(2) To file a report of the investigation, relating any facts
evidencing fraud, dishonesty, incompetence, misconduct, or
mismanagement, and to send a copy of the findings to any creditors'
committee or equity security holders' committee
(3) Any other responsibilities of the trustee that the judge directs
the debtor in possession not to perform
Click
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Chapter 7&13
If you qualify
CHAPTER 7: STOP
- Creditor
Harassment
- Stop utility
shutoffs
- eliminate payments
on unsecured debts.
- Improve bad credit
-
Surrender car, and other secured collateral without
incurring a "deficiency"
**For
Chapter 13
cases with wage order
and balance paid through a trustee as part of a partial re-payment plan
and not paid directly to the attorney. Court filing fee is
extra.
- Emergency Petitions
filed
- Ask to see a statement
of clients rights and responsibilities
Free Consultation
Reasonable rates
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