The debtor must not have had a previous bankruptcy dismissed for cause within the last 180 days.
It also assures a Panel Trustee that he/she has an equal chance to get appointed to a case that may have significant assets to administer.
The Panel Trustee specifically reviews the debtor's exemption schedules to determine whether the debtor has properly followed the state or federal exemption laws.
The Panel Trustee formulates questions to ask the debtor at the Section 341 hearing regarding the debtor's assets, liabilities, income and expenses.
In addition, PFD administers the State’s investor relations program by providing access to public financing information on the Treasurer’s website and at Buy California
How and why is a Trustee appointed to a Chapter 7 Bankruptcy case? How is a Panel Trustee appointed to a specific case? In those cases, the trustee files a report of no distribution with the Court to indicate there will be no payment to the creditors.