Issue link: https://mbozikis.ufcontent.com/i/1422521
143 the best interests of creditors and the estate. 11 U.S.C. ยงยง 1104(a), 1108. Generally, the standards for appointment of a Chapter 11 trustee are quite high. The protection provided by a trustee must be necessary, and the costs and expenses must not be disproportionately higher than the value of the protection afforded by the trustee. There is a strong presumption against the appointment of an outside trustee, and the moving party must prove the need for such appointment by clear and convincing evidence. See In re G-I Holdings, Inc., 385 F.3d 313 (3d Cir. 2004). The duties of a Chapter 11 trustee include: (i) performing certain duties of a Chapter 7 trustee (including being accountable for all property received, examining proofs of claim and filing objections thereto as appropriate, furnishing information about the estate and the administration thereof filing periodic reports and summaries of the operation of the debtor's business with the relevant taxing authorities and making a final report and filing a final account of the administration of the estate); (ii) filing the list of creditors, schedules of assets and liabilities and the statement of the debtor's financial affairs (to the extent that the debtor has not already done so); (iii) except to the extent that the court orders otherwise, investigating the acts, conduct, assets, liabilities and financial condition of the debtor, the operation of the debtor's business and the desirability of continuing such business, and any other matter relevant to the case or to the formulation of a plan; (iv) filing a statement of any investigation conducted pursuant to the preceding subparagraph;