Tag Archives: liquidating property

Collecting and liquidating estate property

he Chapter 7 trustee must collect and liquidate estate property. [11 USC § 704(a)(1); In re Martin (3rd Cir. 1996) 91 F3d 389, 394—Chapter 7 trustee has duty to creditors to realize from estate “all that is possible” for distribution among creditors; In re Hyman (9th Cir. BAP 1991) 123 BR 342, 347 (collecting cases); but see also Matter of Taxman Clothing Co. (7th Cir. 1995) 49 F3d 310, 315—trustee has no duty to collect an estate asset if cost of collection would exceed asset’s value]

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