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Re-noticing claims bar date in Chapter 7 after no-dividened report and first propertly noticed claims bar date.
Ok Pe-ter.
D
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Feb 14, 2014, at 10:36 AM, "Peter M. Lively" wrote:
>
> I understand the Chapter 7 Trustee's financial incentive re 11 USC 326, I just don't understand why the UST is instructing the Chapter 7 Trustee to re-notice (I like to spell it this way)
>
> Peter M. Lively, J.D., M.B.A.
> Law Office of Peter M. Lively * Personal Financial Law Center I
> 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
> Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310) 391-2462
>
>
> On Thursday, February 13, 2014 9:42 PM, cdcbaa wrote:
>
> Peter:
>
> No, trustee cannot set a bar date. Only the court can, by court order. But realize what the trustee is doing. The trustee is soliciting late claims. The trustee only gets a commission on money paid to creditors. Money returned to the debtor is not subject to the trustee's commission. But under 726, late claims, even if the creditor knew of the first bar date and did not file, are paid ahead of the debtor.
>
> The trustee is supposed to pay the creditors, and the trustee is doing the trustee's job.
>
> d
>
>
>
> Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
>
>
>> On Feb 12, 2014, at 11:02 AM, "Peter M. Lively" wrote:
>>
>>
>> Does the Chapter 7 Trustee has a right to re-notice a claims bar date where there was originally a no dividend report and thereafter a properly noticed deadline to file claims pursuant to Rules 3002(c)(5) and 2002(h) that resulted in no claims being filed?
>>
>> Thanks,
>> Peter
>>
>> Peter M. Lively, J.D., M.B.A.
>> Law Office of Peter M. Lively * Personal Financial Law Center I
>> 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
>> Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310) 391-2462
>
>
>
>
The post was migrated from Yahoo.
I understand the Chapter 7 Trustee's financial incentive re 11 USC 326, I just don't understand why the UST is instructing the Chapter7 Trustee to re-notice (I liketo spell itthis way)
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Thursday, February 13, 2014 9:42 PM, cdcbaa wrote:
Peter:
No, trustee cannot set a bar date. Only the court can, by court order. But realize what the trustee is doing. The trustee is soliciting late claims. The trustee only gets a commission on money paid to creditors. Money returned to the debtor is not subject to the trustee's commission. But under 726, late claims, even if the creditor knew of the first bar date and did not file, are paid ahead of the debtor.
The trustee is supposed to pay the creditors, and the trustee is doing the trustee's job.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
On Feb 12, 2014, at 11:02 AM, "Peter M. Lively" wrote:
>Does the Chapter 7 Trustee has a right to re-notice a claims bar date where there was originally a no dividend report and thereafter a properly noticed deadline to file claims pursuant to Rules 3002(c)(5) and 2002(h) that resulted in no claims being filed?
>
>
>Thanks,
>Peter
>
>Peter M. Lively, J.D., M.B.A.
>Law Office of Peter M. Lively * Personal Financial Law Center I
>11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
>Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
The post was migrated from Yahoo.
Peter:
No, trustee cannot set a bar date. Only the court can, by court order. But realize what the trustee is doing. The trustee is soliciting late claims. The trustee only gets a commission on money paid to creditors. Money returned to the debtor is not subject to the trustee's commission. But under 726, late claims, even if the creditor knew of the first bar date and did not file, are paid ahead of the debtor.
The trustee is supposed to pay the creditors, and the trustee is doing the trustee's job.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Feb 12, 2014, at 11:02 AM, "Peter M. Lively" wrote:
>
> Does the Chapter 7 Trustee has a right to re-notice a claims bar date where there was originally a no dividend report and thereafter a properly noticed deadline to file claims pursuant to Rules 3002(c)(5) and 2002(h) that resulted in no claims being filed?
>
> Thanks,
> Peter
>
> Peter M. Lively, J.D., M.B.A.
> Law Office of Peter M. Lively * Personal Financial Law Center I
> 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
> Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310) 391-2462
>
The post was migrated from Yahoo.
Does the Chapter 7 Trustee has a right to re-notice a claims bar date where there was originally a no dividend report and thereafter a properly noticed deadline to file claims pursuant to Rules 3002(c)(5) and 2002(h) that resulted in no claims being filed?
Thanks,
Peter
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
The post was migrated from Yahoo.