In re J. WAYNE STEWART and JEAN M. STEWART, Debtors. RICHARD A. MARSHACK, Chapter 11 Trustee, Appellant., 157 B.R. 893

Summary

Appellant trustee filed an application seeking interim compensation. The Office of the United States Trustee objected to the fee request because it was based on the funds collected instead of the monies disbursed. The Office of the United States Trustee argued that only in exceptional circumstances could a trustee could receive interim fees based on the amount collected rather than on the amount disbursed. Appellant showed that all funds collected would be disbursed. The bankruptcy court ruled that as a matter of law, payment of interim compensation to trustees was limited to a percentage of the amount disbursed at the time the application is made and that 11 U.S.C.S. § 326 did not allow an award based upon receipts. On appeal the panel found no statutory authority to justify the court's conclusion that interim compensation must be limited to the amount disbursed at the time the application is made. It held that the amount of money a trustee had disbursed at the time he or she filed ...