H.R.6349 - Bankruptcy Administration Improvement Act of 2012

To amend title 11 of the United States Code to increase the maximum amount that may be paid to trustees for services rendered; to repeal provisions relating the trustee administration of certain employee pension plans; and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend title 11 of the United States Code to increase the maximum amount that may be paid to trustees for services rendered; to repeal provisions relating the trustee administration of certain employee pension plans; and for other purposes. as introduced.
  • Short: Bankruptcy Administration Improvement Act of 2012 as introduced.

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Introduced
 
House
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Senate
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President
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08/02/12
 
 
 
 
 
 
 

Official Summary

Bankruptcy Administration Improvement Act of 2012 - Amends federal bankruptcy law to: (1) round to the nearest $5 any Consumer Price Index (CPI) increase in the trustee fee for services rendered in a case under chapter 7 (Liquidation); (2) increase that fee from $15 to $75; and (3) authoriz

Official Summary

Bankruptcy Administration Improvement Act of 2012 - Amends federal bankruptcy law to:
(1) round to the nearest $5 any Consumer Price Index (CPI) increase in the trustee fee for services rendered in a case under chapter 7 (Liquidation);
(2) increase that fee from $15 to $75; and
(3) authorize the court, in determining the amount of reasonable compensation to be awarded to a trustee under chapter 7, to treat such compensation as a commission. Prohibits the waiver of the trustee fee if an individual debtor is able to pay in installments in chapter 7 cases. Repeals the requirement that, when a trustee is not serving a chapter 7 case involving an employee benefit plan, the debtor continue to perform the obligations required of the plan administrator if at the time of the commencement of the case the debtor (or a designee entity) served as the administrator. Repeals the duty of a trustee, in such a circumstance, to continue to perform such administrative obligations.

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