2015-1. FUNDS OF THE ESTATE

2015-1. Funds of the Estate.

(a) Account Identification. The signature card (or if there is none, the depository agreement) for any account containing funds which are the property of a bankruptcy estate must clearly indicate that the depositor or investor is a “debtor-in-possession” or a trustee in bankruptcy. This rule does not apply to accounts maintained by Chapter 13 debtors.

(b) Compliance with 11 U.S.C. § 345. There shall be a rebuttable presumption that funds which are deposited with an entity which is included on the United States Trustee’s most recent list of “cooperating depositories” have been deposited in accordance with 11 U.S.C. § 345(b).

(c) Investment of Bankruptcy Estate Assets In U.S. Treasury Instruments.

(1) Unless otherwise directed by the court, the trustee or debtor in possession may give notice of a proposed investment of bankruptcy estate assets in a Designated Fund to the United States trustee, all creditors, indenture trustees, and committees elected pursuant to § 705 or appointed pursuant to § 1102 of the Code, and shall file such notice with the court, together with a copy of the Designated Fund’s prospectus. A party in interest may file and serve an objection within 14 days of the mailing of the notice, or within the time fixed by the court. If a timely objection is made, the court shall set a hearing on notice to the United States trustee and to other entities as the court may direct. If no objection is made, the trustee or debtor in possession may proceed with the investment.

(2) For purposes of this rule, a “Designated Fund” is an open-end management investment company that is registered under the Investment Company Act of 1940, regulated as a “money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, invests exclusively in United States Treasury bills and United States Treasury Notes owned directly or through repurchase agreements, has received the highest money market fund rating from a nationally recognized statistical rating organization, such as Standard & Poor’s or Moody’s, has agreed to redeem funds shares in cash, with payment being made no later than the business day following a redemption request by a shareholder (except in the event of an unscheduled closing of Federal Reserve Banks or the New York Stock Exchange), and has adopted a policy that it will notify its shareholder 60 days prior to any change in its policy to invest exclusively in Treasury securities as described above or to redeem fund shares in cash no later than the business day following a redemption request by the shareholder (with limited exceptions for unscheduled closings of Federal Reserve Banks or the New York Stock Exchange).

Attorney Consultation!! $99 Retainer Fee!! Free Bankruptcy Evaluation
Motivation Bills Assets Budget
The law varies from state-to-state — please provide your zip code!

Why are you considering bankruptcy? (select all that apply)









Motivation Bills Assets Budget

What bills do you have? (select all that apply)








Motivation Bills Assets Budget
Do you own real estate ?
If Yes , are you behind in these payments?


Do you own an automobile ?
If Yes , are you behind in these payments?


Do you have any additional assets worth more than $1000.00?
Motivation Bills Assets Budget

What types of income do you have? (select all that apply)






$
Contact Info Your Evaluation

Call For A Consultation

toll free: 1-866-447-8460