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For a description of our assets please see the Our Assets section. How and why is a Trustee appointed to a Chapter 7 Bankruptcy case? How is a Panel Trustee appointed to a specific case? In those cases, the trustee files a report of no distribution with the Court to indicate there will be no payment to the creditors.

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After the Section 341 hearing, the Panel Trustee will object to exemptions that have been improperly claimed.

The Panel Trustee must file an objection to the claimed exemptions within 30 days of the Section 341 hearing.

The Panel Trustee specifically reviews the debtor's exemption schedules to determine whether the debtor has properly followed the state or federal exemption laws.

The Panel Trustee formulates questions to ask the debtor at the Section 341 hearing regarding the debtor's assets, liabilities, income and expenses.

Chapter 7 Trustees collectively administer over one million cases annually.

The United States Trustee usually institutes a program at the local level which insures that a Panel Trustee is selected on a random basis to handle all Chapter 7 bankruptcy cases.

The debtor maybe an individual, married couple, corporation, partnership or trust.

The debtor may not have been granted a Chapter 7 discharge within the previous 6 years.

Why are Panel Trustees necessary for the Bankruptcy System? Chapter 7 bankruptcy is a liquidation legal proceeding.

The debtor is required to attend a Section 341 hearing which is commonly called the first meeting of the creditors. Creditors of the debtor are allowed the opportunity to ask questions of the debtor regarding the statements and schedules filed by the debtor with the Court.

The Panel Trustee serves as the hearing officer for the 341 hearing.

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