Tick Tock: When Does the Thirty-Day Clock in Rule 4003(B) Begin

Authors

Maeghan J. McLoughlin

Document Type

Note

Abstract

(Excerpt)

This Note surveys the competing approaches to the thirty-day limitation and its impact on the rights of both debtors and creditors. It concludes with a proposed solution derived from the bright line approach but extends further to encompass the policies inherent in the Code. Part I provides a background of chapter 7 bankruptcy cases and the applicable Code and Rule provisions that facilitate the estate administration. Part II reviews the conflicting case law and differing interpretations regarding the conclusion of the 341 meeting of creditors. Part III examines the policies, interpretations, and equitable considerations underlying Rule 4003(b). Part III then proposes that Rule 4003(b) be revised to provide that unless the trustee, for cause, announces the future date and time of the adjourned meeting at the 341 meeting of creditors, the thirty-day period begins as of the last date of the creditors meeting. Part III concludes by detailing the practical concerns associated with indefinite adjournments and demonstrates that the proposed solution accords with the values animating the Code and Rules.