2012 US Code
Title 11 - Bankruptcy
Appendix (rules 1001 - 9037)
FEDERAL RULES OF BANKRUPTCY PROCEDURE (rules 1001 - 9037)
Part VI - COLLECTION AND LIQUIDATION OF THE ESTATE (rules 6001 - 6011)
Rule 6005 - Appraisers and Auctioneers
Publication Title | United States Code, 2012 Edition, Title 11 - BANKRUPTCY |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 11 - BANKRUPTCY TITLE 11 - APPENDIX FEDERAL RULES OF BANKRUPTCY PROCEDURE PART VI - COLLECTION AND LIQUIDATION OF THE ESTATE Rule 6005 - Appraisers and Auctioneers |
Contains | rule 6005 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | Yes |
Disposition | standard |
Source Credit | As amended Apr. 30, 1991, eff. Aug. 1, 1991. |
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The order of the court approving the employment of an appraiser or auctioneer shall fix the amount or rate of compensation. No officer or employee of the Judicial Branch of the United States or the United States Department of Justice shall be eligible to act as appraiser or auctioneer. No residence or licensing requirement shall disqualify an appraiser or auctioneer from employment.
(As amended Apr. 30, 1991, eff. Aug. 1, 1991.)
Notes of Advisory Committee on Rules—1983This rule is derived from former Bankruptcy Rule 606(c) and implements §327 of the Code. Pursuant to §327, the trustee or debtor in possession may employ one or more appraisers or auctioneers, subject to court approval. This rule requires the court order approving such employment to fix the amount or rate of compensation. The second sentence of the former rule is retained to continue to safeguard against imputations of favoritism which detract from public confidence in bankruptcy administration. The final sentence is to guard against imposition of parochial requirements not warranted by any consideration having to do with sound bankruptcy administration.
Reference should also be made to Rule 2013(a) regarding the limitation on employment of appraisers and auctioneers, and Rule 2014(a) regarding the application for appointment of an appraiser or auctioneer.
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