"Colorado Chapter 11 Trustee"
In most Colorado bankruptcy cases, a Chapter 11 trustee is not appointed. The debtor retains possession of all
assets and is permitted to continue business operations. However, based upon an objection filed by a creditor,
or upon the courts own motion, a trustee may be appointed. Generally, the appointment of a trustee in Colorado
bankruptcy cases under Chapter 11 is based upon
a debtor's failure to comply with statutory requirements. Colorado bankruptcy trustees tend to specialize by chapter of
expertise.
| 11 U.S.C. §1104(a): "At any time after the commencement of the case but before confirmation
of a plan, on request of a party in interest or the United States trustee, and after notice and a hearing, the court
shall order the appointment of a trustee - (1) for cause, including fraud, dishonesty, incompetence, or gross
mismanagement of the affairs of the debtor by current management, either before or after the commencement of the
case, or similar cause, but not including the number of holders of securities of the debtor or the amount of assets
or liabilities of the debtor; or (2) if such appointment is in the interests of creditors, any equity security holders,
and other interests of the estate, without regard to the number of holders of securities of the debtor or
the amount of assets or liabilities of the debtor." |
NOTE: Spanish language forms and information may be obtained from a various websites, including the United
State Department of Justice, Administrative Office of the U.S. Courts, and other US Court sites. Regarding these
forms, the Colorado Bankruptcy Court advises "While we have no reason to believe that these Spanish language
forms or information have been translated inaccurately, only the English language forms are officially
prescribed by the Judicial Conference of the United States Courts. Accordingly, the Court for the District of
Colorado can not guarantee the accuracy or sufficiency of information contained in Spanish language forms or
informational documents." The Colorado Bankruptcy Court also maintains a pro bono program to assist qualified
debtors with adversary proceedings (not available to file petitions to initiate Ch. 7 or 13 cases).
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