Bankruptcy An Important Issue in the Present Times:
In the present times, the bankruptcy has indeed become a very important issue
as many a companies and persons declare themselves bankrupt
each year. The reason for declaring the bankruptcy is indeed
the inability of a person or a company to pay the outstanding
This amount is borrowed on many an occasions by the person
or the company etc for fulfilling various needs. The increase
in the bankruptcy cases has given rise to more and more attorneys
fighting for the same. As a result, many of these law firms,
attorneys, bankruptcy trustees etc have given performed to the
expected level and to the satisfaction of the various parties
of the bankruptcy. These attorneys, bankruptcy trustees are
of course awarded for their excellent work done in the concerned
field. One of such awards that are given for their work that
is given is the certificate of appreciation. Let us discuss
about it in our next part of discussion.
Certificate of Appreciation:
First of all, let us discuss what is the meaning of the certificate of appreciation. This is basically an award that is given to a person for performing in the best possible manner and for the best interest of all the parties concerned. This is not limited to any particular field and this award can be given for the excellent work done and the bankruptcy is of course one of them. As far as the bankruptcy is concerned, the certificate of appreciation is given to the persons at various levels for the excellent work done. Let us see, for what reasons, the certificate of appreciation is given.
Obtaining the Certificate of Appreciation:
As said above, there are many persons holding different position that get the certificate of appreciation. Let us discuss these all.
The first is the bankruptcy trustee. As we all know the bankruptcy court or
the court of law for managing the financial affairs of the debtor
appoints the bankruptcy trustee. His prime role is to sell the
assets of the debtor for the maximum value and in the quickest
of times so that the proceeds can be distributed to the various
creditors of the debtors.
The certificate of appreciation is given to the bankruptcy
trustee for giving the excellent results in his field. So, in
order to be named among the various candidates for the certificate
of appreciation, the bankruptcy trustee has to do the following:
First of all, he should see whether there are any private trustees on which he can easily rely on. This is because selling the non-exempt assets of the debtor is a very important task and there are many persons that are affected by a single decision of the bankruptcy trustee. Thus, a bankruptcy trustee should entrust somebody with the work of it only to that private trustee who is well experienced and has been recognized for his services in any other ways. If the bankruptcy trustee is not getting any such trustee, he should take the responsibility himself so that the interest of the various parties concerned are not suffered.
The second aspect a bankruptcy trustee should take care of is the time. The assets should be sold in the quickest possible manner and it should be tried that the creditors get the maximum benefit out of it. This is really a very important aspect and a bankruptcy trustee should take it very seriously. Many a times, the bankruptcy trustee has been given awards for their timely performance and with excellent results.
The third important aspect that should also be taken care of by the bankruptcy trustee is that he should close the case only after all the interests of the various creditors of the debtors have been accomplished. This is because once the bankruptcy trustee has closed the case; all the remaining assets are abandoned to the debtor and no other claims can be made by the bankruptcy trustee. This is a very sensitive issue and should be dealt with great care by the bankruptcy trustee. Many a trustees have been held responsible for the negligence in this particular subject.
Thus, in order to get the certificate of appreciation, the bankruptcy trustee should take care of the above factors.
There are also many law firms that have been awarded the certificate of appreciation by the various competent authorities for the quality service they are providing to their clients for the past many years. It is to be noted here that it takes time to get renowned by way of the quality services being provided and only then, a law firm can expect for any award.
Many attorneys also are given the certificate of appreciation for the services they have given for the past many years related to the bankruptcy cases. Especially those attorneys that are giving the volunteer services have been awarded many awards for serving towards the community. Same is the case with the bankruptcy judges too.
Thus, it has been clear to all of us that the certificate of appreciation is given for the faithful and excellent services in the filed of bankruptcy too. One more aspect that needs to be discussed here is that is there any special organizations that give away these awards As far as the certificate of appreciation in the field of bankruptcy is concerned, the various voluntary and other official bodies give it. There are bar associations in almost all the states and these bar associations do give away the certificate of association. Apart from this, there are also many associated clubs of the official bodies that give away the certificate of appreciation. For example, there are many clubs in the United States that give away the certificate of appreciation like the Gold Club Certificate of Appreciation that is given for the excellent work done in the related field.
There are many seminars that are organized many times in a year and the certificate of appreciation is awarded at these seminars also. For example, the seminar of the bankruptcy judges.
So, Preseverance is the Key:
Thus, it is clear that there are many offices, associations that give away award in the field of bankruptcy. The only key to get such awards is the continuous efforts to perform in an excellent manner, saving the interests of all the concerned parties.
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