A Basic Overview of the United States Trustee Program
The mission of the United States Trustee Program is to safeguard the integrity of the federal bankruptcy system by monitoring the conduct of all parties and overseeing related administrative tasks. In addition, the United States Trustee Program facilitates compliance with laws and procedures by investigating cases of fraud and abuse. To safeguard the integrity of the federal system, the United States Trustee Program frequently works with attorneys, the Federal Bureau of Investigation, and various law enforcement agencies.
History
The Bankruptcy Reform Act of 1978 established the United States Trustee Program. The United States Trustee System Fund collects fees from individual parties and businesses filing for bankruptcy protection in order to fund the United States Trustee Program. The main purpose of this government agency is to regulate the process, ensuring that parties filing petitions comply with federal code.
Structure
The Attorney General appoints the United States Trustees and Assistant United States Trustees. At the head of the agency is the Director of the Executive Office, who provides managerial and administrative support to individual U.S. Trustee Offices in the states as they enforce and implement federal laws.
Duties
The United States Trustee Program supervises the liquidation and reorganization proceedings outlined in Chapter 7, Chapter 11, and Chapter 13 petitions. In particular, the office appoints an individual trustee to monitor estates and to review the applications for signs of fraud or abuse. The individual trustee also ensures that an estate is properly administered and that the professional fees associated with the case are reasonable.
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