United States Ninth Circuit

In this case, secured creditors made a winning credit bid on real property of the bankruptcy estate, using money the estate owed them rather than cash. Judgment of the Bankruptcy Appellate Panel reversing the bankruptcy court's award of compensation to a chapter 7 trustee is affirmed, where: 1) the trustee's compensation is calculated based on the value of the bankruptcy estate assets he disburses; but 2) 11 U.S.C. section 326(a) does not permit a trustee to collect fees on a credit bid transaction in which the trustee disburses only property, not "moneys," to the creditor.

Appellate Information

• Decided 01/26/2015
• Published 01/26/2015

Judges

• Kozinski

Court

• United States Ninth Circuit

Counsel