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GGD-84-55 1 (1984-08-21)

handle is hein.gao/gaobabesv0001 and id is 1 raw text is: BY THE U,S, GENERAL ACCOUNTING OFFICE Report To The Attorney General And The Director, Administrative Office Of The U.S. Courts Greater Oversight And Guidance Of Bankruptcy Process Needed Th Bankruptcy Reform Act of 1978 is intended, in part, to more equitably balance th interests of debtors and creditors GAO reviewed the activities of bankruptcy trus- tees in eight judicial districts to determine if tho act's intent was being achieved G 0 found disparate treatment of creditors an debtors within and among the eight di tricts Specifically, trustees did not con- siotently invest funds from liquidated assets and inconsistently established minimum do lar limits when deciding whether to liqui- date or abandon assets Additionally, GAO found some trustees were paid attorney fees for performing trustee duties and ex- ceeded the maximum compensation and expense allowance provided by statute GAO recommends that the Attorney Gen- eral and the Director of the Administrative Office of the U S Courts coordinate their efforts and provide more guidance to, and supervision of, bankruptcy trustees 124975 '0 GAO/GGD-84-55 a -n ,AUGUST 21, 1984

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