What happens now that a Trustee has been appointed?
Following the rules of the Bankruptcy Code, the Trustee held the “first meeting of creditors” (Section 341 meeting) on April 30, 2007. It was well attended by numerous creditors. The United States Trustee and the Trustee (in the cases of Louis J. Pearlman and Trans Continental Airlines, Inc.) provided an overview and status of the administration of the case in addition to answering the creditors’ questions.
