TRUSTEE OR BANKRUPTCY ADMINISTRATOR (Page
The U.S. trustee plays a major role in
monitoring the progress of a chapter 11 case and supervising its
administration. The U.S. trustee is responsible for monitoring the
debtor in possession’s operation of the business and the
submission of operating reports and fees. Additionally, the U.S.
trustee monitors applications for compensation and reimbursement
by professionals, plans and disclosure statements filed with the
court, and creditors’ committees. The U.S. trustee conducts a
meeting of the creditors, often referred to as the “section 341
meeting,” in a chapter 11 case. 11 U.S.C. § 341. The U.S.
trustee and creditors may question the debtor under oath at the
section 341 meeting concerning the debtor’s acts, conduct,
property, and the administration of the case.