Oconee County, GA bankruptcy trustee

The Oconee County, GA bankruptcy trustee in may use, sell, or lease property in the debtor's estate in the usual course of business. In addition, the bankruptcy court can permit the trustee to operate the filer’s business for a certain time if continued operation is in the best interests of the all. For example, if the farm debtor is in the hog business and the estate consists of hogs of different sizes, the trustee may be permitted 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. Though the appointment of a case trustee is very rare in a chapter 11 case, a party in interest or the United States trustee may seek the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 proceeding. The judge, on application by a party in interest or the United States trustee and subsequent to notice and hearing, can direct 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.

---------------------Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy