What Is the "Appointment of a Successor Trustee?"

Related Ads

Talk to a Bankruptcy Lawyer

Contact a Qualified Lawyer. Understand Your Legal Rights.
Zip Code:

In a bankruptcy case, the trustee is an official, appointed by the bankruptcy court, who reviews the filer's forms, conducts the meeting of creditors, and manages the filer's bankruptcy estate. In a Chapter 7 bankruptcy, the trustee is responsible for taking and selling any nonxempt property the filer owns, and distributing the proceeds to the creditors. In a Chapter 13 case, the trustee oversees the filer's repayment plan.

As provided by 11 U.S.C. Section 703, a successor trustee will be chosen when the original trustee assigned to a case has died, has resigned, fails to meet the qualifications, or is removed from the case. The successor picks up where the original trustee left off, managing the bankruptcy case through to its conclusion.

Updated by: , J.D.

Talk to a Bankruptcy Lawyer

Start here to find bankruptcy lawyers near you.
HOW IT WORKS
how it works 1
Briefly tell us about your case
how it works 2
Provide your contact information
how it works 1
Choose attorneys to contact you
LA-NOLO4:DRU.1.6.2.20140813.27175