In addition to case examine solution duties already noted, case examine solution trustee has other responsibilities under Chapter 7. He must sell case examine answer assets for money, close up case study solution property “as expeditiously as is compatible with case examine solution best interests of parties in attention,” determine case examine answer debtor’s financial affairs, check proofs of claims, reject wrong ones, oppose case study answer discharge of case study answer debtor wherein doing so is a good option in case look at answer trustee’s opinion, furnish a creditor with guidance about case look at solution property and his administration until case look at solution court docket orders otherwise, file tax reviews if case look at answer company continues to be operated, and make a final file and file it with case study answer courtroom. Under Section 706 of case look at solution bankruptcy code, case study answer debtor may convert a Chapter 7 case to Chapter 11, 12, or 13 at any time. The courtroom may order a conversion to Chapter 11 at any time upon request of a party in attention and after word and hearing. And, as mentioned next, a case may be converted from Chapter 7 to Chapter 13 if case examine solution debtor consents, or be brushed aside if he does not, in those cases where case look at solution debtor makes too much money to be discharged without it being an “abuse” below case examine solution 2005 act. The first reason why is “for cause,” after observe and a listening to for trigger, adding 1 unreasonable hold up by case look at solution debtor that prejudices creditors, 2 nonpayment of any fees required, 3 failure to file required records and schedules.
In addition to case examine solution duties already noted, case examine solution trustee has other responsibilities under Chapter 7. He must sell case examine answer assets for money, close up case study solution property “as expeditiously as is compatible with case examine solution best interests of parties in attention,” determine case examine answer debtor’s financial affairs, check proofs of claims, reject wrong ones, oppose case study answer discharge of case study answer debtor wherein doing so is a good option in case look at answer trustee’s opinion, furnish a creditor with guidance about case look at solution property and his administration until case look at solution court docket orders otherwise, file tax reviews if case look at answer company continues to be operated, and make a final file and file it with case study answer courtroom. Under Section 706 of case look at solution bankruptcy code, case study answer debtor may convert a Chapter 7 case to Chapter 11, 12, or 13 at any time. The courtroom may order a conversion to Chapter 11 at any time upon request of a party in attention and after word and hearing. And, as mentioned next, a case may be converted from Chapter 7 to Chapter 13 if case examine solution debtor consents, or be brushed aside if he does not, in those cases where case look at solution debtor makes too much money to be discharged without it being an “abuse” below case examine solution 2005 act. The first reason why is “for cause,” after observe and a listening to for trigger, adding 1 unreasonable hold up by case look at solution debtor that prejudices creditors, 2 nonpayment of any fees required, 3 failure to file required records and schedules.