What must a bankruptcy administrator obtain before demanding that deposited currency, securities or other valuables be returned?
General information · Not legal advice
Material to check
In a practice file, we read the inventory of items the administrator deposited and with whom, any consent given by the audit committee, the court's permission where the file shows no such committee exists, and any resolution of the creditors' meeting recorded in the minutes.
These are types of material to look for, not evidence already verified by PRO SE.
Where readings differ
One reading treats consent as the first requirement: the administrator who wants deposited currency, negotiable securities or other valuables back must obtain the audit committee's agreement, and only where no such committee exists may the court's permission take its place.
Another reading gives the proviso priority wherever it applies: if the creditors' meeting has made a different resolution, that resolution governs what the administrator may demand, so the committee's consent or the court's permission is displaced rather than added to it.
Your judgment
If the creditors' meeting resolved on some of the deposited items but not others, how should the file show which items each decision covers?
PRO SE does not make this decision or keep a case record on this public site.When to reconsider
We revisit this card if the provision is amended to change who must agree, or if a court decision clarifies the scope a creditors' meeting resolution must have to displace consent or permission.