Vero Beach Trustee Representation Attorney
Bankruptcy trustees play an essential role in the overall bankruptcy system. Trustees often face complex issues of law and finance that require skilled assistance. The Vero Beach trustee representation attorneys at Markarian & Hayes can provide this skill. We have the knowledge and experience to help trustees in fulfilling their legal and fiduciary obligations in a Chapter 7, Chapter 11, or Chapter 13 case.
We Understand the Critical Role of the Bankruptcy Trustee
The essential function of any trustee is to serve as an impartial administrator of a debtor’s bankruptcy estate. The specific role of the trustee depends on the type of bankruptcy filing. In a Chapter 7 liquidation bankruptcy, the trustee must gather the debtor’s non-exempt assets, liquidate them, and use the proceeds to pay the debtor’s creditors in accordance with the law.
With a Chapter 13 bankruptcy, the debtor is responsible for submitting a proposed repayment plan to the court. The trustee then mediates any issues or objections to the plan from the creditors. And once approved by the court, the trustee is responsible for making sure the debtor follows the plan, while ensuring all payments are properly directed to the creditors.
In most Chapter 11 cases, the debtor business normally serves as its own trustee (a situation called the “debtor-in-possession”). But in some cases, a court-appointed trustee is still necessary. In these situations the trustee assumes responsibility for the restructuring of the debtor’s business.
How We Can Help Bankruptcy Trustees
The bankruptcy trustee’s role is primarily fiduciary. And in many bankruptcies there are no specialized legal issues that arise. But when they do the trustee may require assistance, especially if he or she is not an attorney themselves. Some of the more complex bankruptcy issues that we assist trustees with include:
- investigating the debtor’s finances, including whether or not they fully disclosed all of their assets;
- initiating actions to recover assets belonging to the bankruptcy estate, including property that was improperly transferred by the debtor prior to filing for bankruptcy protection;
- reviewing the validity of creditor claims against the bankruptcy estate;
- representing the trustee in any adversary proceeding, whether initiated by the trustee, the debtor, or any of the creditors;
- resolving creditor objections to a Chapter 11 or Chapter 13 plan;
- negotiating liquidation or litigation agreements between the debtor and the creditors;
- handling routine matters of administration, such as filling out petitions and fee applications; and
- managing other outstanding litigation on behalf of the bankruptcy estate.
If You Are a Chapter 7, Chapter 11, or Chapter 13 Trustee, Call Markarian & Hayes Today
Whatever your legal needs, the trustee representation attorneys at Markarian & Hayes will provide professional service. We understand that as a trustee you have a lot on your plate. Bankruptcy can be a difficult process for all parties. But we can help ensure that your actions as trustee follow the law and resolve any outstanding issues as quickly as possible.
Call us today at 772-794-3379 to schedule a confidential consultation today so we can learn more about how we can best assist you in administering your bankruptcy estate.