Morgan & McClarty, P.C.
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CHAPTER 7 BANKRUPTCY

TRUSTEE

SINCE 1990

A TRUSTED INFORMATION RESOURCE FOR PEOPLE WHO ALREADY FILED FOR CHAPTER 7 BANKRUPTCY

 

Chapter 7
Trustee Overview

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Chapter 7 Bankruptcy Trustee

Pledge of Excellence

Chapter 7 Panel Trustees are committed to excellence in the administration of bankruptcy cases and carry out their duties with the utmost integrity, diligence and professionalism.  Creditors, debtors, attorneys, judges and others who come into contact with Chapter 7 Trustees are entitled to service that adheres to the highest standards of professional, moral and ethical conduct.

  • The trustee should identify and administer assets in a timely and comprehensive manner to produce maximum benefits for creditors and relief to debtors.
  • The trustee should conduct meaningful 341 meetings of creditors and maintain a professional atmosphere that conveys the significance of the proceedings.
  • The trustee should act as a fiduciary who administers assets and makes decisions that are in the best interests of the estate.
  • The trustee should actively participate in every facet of the trustee operation and maintain efficient systems that accurately track case administration, chart the progress of cases, account for all property that comes into the trustee’s possession and generate accurate reports.
  • The trustee should maintain an appropriate and reasonably comprehensive system of internal controls over accounting and office operations to safeguard estate assets and trust funds.
  • The trustee should always be courteous in dealings with debtors, creditors and other parties in interest.
  • The trustee should work to ensure that debtors comply with their obligations under the Bankruptcy Code and Rules.
  • The trustee should promote and preserve the integrity of the bankruptcy system by helping to detect fraudulent or abusive conduct.
  • The trustee should encourage debtors, creditors, attorneys and other participants in the bankruptcy process to diligently perform their respective responsibilities according to the highest standards of professional, moral and ethical conduct.
  • The trustee should diligently perform his or her responsibilities according to the Bankruptcy Code and Rules and the Handbook for Chapter 7 Trustees.

 

 

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