Every lessor and bankruptcy professional understands that the Chapter 7 trustee has the duty to investigate the financial affairs of the debtor and to ensure that books and records are properly turned over in accordance with Section 704.
What You Need to Know About a Debtor's Leased Computers
Every lessor and bankruptcy professional understands that the Chapter 7 trustee has the duty to investigate the financial affairs of the debtor and to ensure that books and records are properly turned over in accordance with Section 704. The debtor has the obligation, under Section 521(4), to "surrender to the trustee all property of the estate and any recorded information, including books, documents, records, and papers relating to property of the estate, whether or not immunity is granted under Section 344 of this title." Likewise, Chapter 11 and Chapter 13 trustees and debtors have similar duties and responsibilities.
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