Augusta, Georgia bankruptcy trustee

Augusta, Georgia bankruptcy trustee

A Augusta, Georgia bankruptcy trustee in may use, sell, or lease property in the debtor's estate in the usual course of business. Besides, a bankruptcy court may authorize 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, when the farm debtor is in the hog business and the estate consists of hogs of different sizes, the trustee may be authorized to feed the hogs until they attain market weight so as to maximize the amount recovered by the estate. However, 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 may abandon the property so as to restrict 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 seek the appointment of a case trustee or examiner at any time prior to confirmation in a chapter 11 case. The judge, on application by a party in interest or the United States trustee and upon 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.

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