Bankruptcy Trustee Bonds
Bankruptcy Trustee Bonds may be written on an individual or blanket basis. These bonds are required by the Court to ensure "faithful performance of duty". They protect creditors from deliberate acts of dishonesty of the TRUSTEE as well as some errors and omissions situations.
CHAPTER 11 Trustee Bonds (Operating or Liquidating) are written on an individual case basis. Our bonds are sent overnight to the trustee. We know that time is very critical as the trustee is not allowed to take control of the bank accounts and other assets until the bond is posted with the court.
CHAPTER 13 & 12 Trustee Bonds may be written on either an individual or blanket trustee basis. The blanket bonds will cover all the panel trustees in the district. All other bonds or large breakout bonds that exceed the blanket bond parameters must be acquired individually.
CHAPTER 7 Trustee Bonds are normally written on a blanket basis. However, individual chapter 7 bonds may also be provided.