In re: Draiman

Federal 7th Circuit Court
Civil Court
Citation
Case Number: 
Nos. 12-3888 et al. Cons.
Decision Date: 
April 8, 2013
Federal District: 
N.D. Ill., E. Div.
Holding: 
Reversed
Bankruptcy Judge erred in finding that appointment of interim trustee within two years after filing of instant bankruptcy petition served to extend limitation period for filing adversary proceedings under section 546(a)(1) of Bankruptcy Code, even though interim trustee was not appointed permanent trustee until after two-year limitations period for filing adversary proceedings had elapsed. Section 546(a)(1) provides for one year extension of applicable limitations period for filing adversary proceedings only when permanent trustee is appointed within initial two-year limitations period, and thus instant adversary proceedings were untimely. Fact that instant permanent trustee was also interim trustee did not require different result.