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the creditors, the U.S. Trustee will appoint (or, if none are willing
to serve, act as) a permanent successor trustee. 11 U.S.C. ยง 703(c).
2. Duties and Responsibilities of Trustee
Pursuant to Section 704 of the Bankruptcy Code, a trustee in a
Chapter 7 proceeding has the following duties and responsibilities:
(i) to collect and reduce to cash the assets of the
bankruptcy estate (including any avoidance actions)
and close the bankruptcy estate as swiftly as possible;
(ii) to be accountable for all property received;
(iii) to ensure that an individual debtor performs its
intention to either claim property securing consumer
debts as exempt, redeem such property or reaffirm
such debts;
(iv) to investigate the financial affairs of the debtor;
(v) to examine proofs of claim and object to any claims
that are improper;
(vi) if advisable, to oppose the debtor's discharge;
(vii) unless otherwise ordered by the court, to furnish to
parties in interest such information concerning the
bankruptcy estate and its administration as is requested
by them;
(viii) if the debtor's business is authorized to be operated, to
provide to certain parties periodic reports and
summaries of such operations, including a statement of
receipts and disbursements;
(ix) to make a final report and file a final account of the
administration of the bankruptcy estate;
