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The More Limited Role of the Trustee
The trustee exercises statutory authority under the bankruptcy code and operates principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the United States trustee.
The U.S. Trustee’s office helps administer bankruptcy cases is burdened with a large caseload. As a result, trustees have less and less time to devote to individual cases. This means that bankrupt debtors in Chapter 11 bankruptcy are being given more latitude in operating their businesses as a debtor-in-possession.
Submitted by Michael C. Dennis