The United States Trustee Program is the component of the Department of Justice that works to protect the integrity of the bankruptcy system by overseeing case administration and litigating to enforce the bankruptcy laws.
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For example: a trust into which a decedent’s business is placed to safeguard the business until it can be sold off.
The purpose of a liquidating trust is liquidation as soon as the circumstances will permit.
In the face of a continuing financially distressed economy, more and more individuals and entities are seeking relief from debt obligations by filing Chapter 7 liquidation bankruptcy cases.
Although numerous parties are involved in a bankruptcy case, no one has a greater impact on a Chapter 7 liquidation case than the bankruptcy trustee.
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