Augusta, GA bankruptcy trustee

Augusta, GA bankruptcy trustee

A Augusta, GA bankruptcy trustee in can use, sell, or lease property in the debtor's estate in the ordinary course of business. Besides, the bankruptcy court will permit a trustee to operate the debtor's business for a limited period when continued operation is in the best interests of the concerned parties. For example, if the farm debtor is in the hog business and the estate consists of hogs of varying 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 further care and feeding of the livestock. Rather, the trustee will likely abandon the property to limit the estate's continued responsibility. Even though the appointment of a case trustee is very rare in a chapter 11 proceeding, a party in interest or the United States trustee may apply for the appointment of a case trustee or examiner at any time prior to confirmation in a chapter 11 proceeding. The judge, on request by a party in interest or the United States trustee and subsequent to notice and hearing, can 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.

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