The Review of Banking & Financial Services
"Examiners in Bankruptcy Cases"
In Chapter 11 cases, the Bankruptcy Code provides for the appointment of an impartial, disinterested person as an examiner to investigate and report on any matter "relevant to the case or to the formulation of a plan," as the court deems "appropriate." Typically, an examiner will file one or more reports of such investigation with the examiner's factual findings and assessment of the merits of related causes of action. The authors discuss the Code provisions, case law, the practices relating to the selection and appointment of examiners, the scope of an examiner's duties, the report's potential benefit to a case and the work plan process. They conclude that an examiner can be an important tool in moving a case toward a consensual resolution and away from unnecessary conflict and litigation.