Michigan Chapter 7 Trustee:
The role of the trustee in Michigan bankruptcy cases filed under Chapter 7 is as an administrator. A trustee reviews a cases for compliance with filing requirements, disclosures, valuations, exemptions and property forfeiture. Trustees also may file motions to object, including opposition to discharge. The presumption is in favor of discharge.
| 11 U.S.C. §725: After the commencement of a case under this chapter [7-liquidation], but before final distribution of property of the estate under section 726 of this title, the trustee, after notice and a hearing, shall dispose of any property in which an entity other than the estate has an interest, such as a lien, and that has not been disposed of under another section of this title |
NOTICE OF AMENDED FORMS AND AUTOMATIC ADJUSTMENTS TO DOLLAR AMOUNTS: On April 1, 2004, automatic adjustments to the dollar amounts stated in various provisions of the Code will become effective in Michigan Bankruptcy Courts. The new dollar amounts will apply to cases filed after the effective date. These amended dollar amounts will affect the eligibility of a debtor to file under Chapter 13 of the Code, certain maximum values of property that a debtor may claim as exempt, the maximum amount of certain claims entitled to priority, the minimum aggregate value of claims needed to commence an involuntary petition, and the value of luxury foods and services deemed to be nondischargeable. The Michigan Bankruptcy Courts will adopt new forms to incorporate these changes beginning April 1, 2004.
Back toMichigan Bankruptcy Court definitions.
|
