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Part 9 · Discharge of residual debt › Section 292

Legal status of trustee

(1) The trustee must bring the assignment to the notice of the person obliged to pay the emoluments. Insofar as the costs of the proceedings which have been deferred in accordance with section 4a have been corrected by deducting the cost of appointing counsel, the trustee must keep separate the amounts received under such assignment and any other payments contributed by the debtor or third parties from his or her own property and distribute them annually to the insolvency creditors as directed in the final record. Section 36 (1) sentence 2 and (4) applies accordingly. The trustee may suspend the distribution until the end of the assignment period at the latest if this appears expedient in view of the low value of the amounts to be distributed; the trustee is required to notify the court once a year of this fact, citing the amount of the sums received.

(2) The creditors’ assembly may also charge the trustee with monitoring whether the debtor is meeting his or her obligations. In such a case, the trustee is to inform the creditors without delay upon determining an infringement of such obligations. The trustee is only obliged to carry out monitoring if the additional payment for this is either covered or advanced.

(3) The trustee is required to render account to the insolvency court upon expiry of his or her office. Sections 58 and 59 apply accordingly, while section 59 applies, with the proviso that any creditor in the insolvency proceedings may request dismissal of the trustee, including for reasons other than the lack of independence, and any creditor of the insolvency proceedings may bring an immediate appeal.

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