Columbus Georgia Chapter 11 Bankruptcy trustee law firm

Columbus Georgia Chapter 11 Bankruptcy trustee law firm

Chapter 11 Bankruptcy case trustee in Chattahoochee County Georgia

In chapter 11 cases, the United States trustee, a federal employee, will not function as a case trustee, who is often a private individual. The United States trustee is responsible for observing all chapter 11 proceedings and has mandate to appear and be heard on any issue in any case, but can not file a plan. The case trustee, however, is responsible for management of the property of the estate, operation of the debtors business, and, if required, the filing of a plan of reorganization. Section 1106 of the US Code authorizes the trustee to file a plan “as soon as practicable” or, alternatively, to file a report demonstrating why a plan will not be submitted or to recommend that the proceeding be converted to another chapter or dismissed.

The court, on notice and hearing, may, at any time prior to confirmation, at the request of a party in interest or the United States trustee, cancel the trustees appointment and restore the debtor to possession and management of the assets of the estate and of the operation of the debtors business.

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