Macon, Georgia bankruptcy trustee

A Macon, Georgia bankruptcy trustee in may use, sell, or lease property in the filer’s estate in the ordinary course of business. In addition, a bankruptcy court can permit a trustee to operate the filer’s business for a certain time when continued operation is in the best interests of the estate and the creditors. For example, when the farm debtor is in the hog business and the estate is made of hogs of different sizes, the trustee can be authorized to feed the hogs till they attain market weight so as to maximize the amount recovered by the estate. But, when the livestock belonging to a farm debtor is subject to a valid, perfected security interest, the trustee will not, in almost all cases, undertake the continued care and feeding of the livestock. Rather, he will likely abandon the property so as to limit the estate's continued responsibility. Though the appointment of a case trustee is rarely occurs in a chapter 11 proceeding, a party in interest or the United States trustee can seek the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 case. The court, on application by a party in interest or the United States trustee and subsequent to notice and hearing, may order the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GAhttp://www.macongabankruptcy.com