Custodians of Estate Property

Recovering estate property isn’t always as straightforward as directing the debtor to turn over property. This session focuses on situations where a nonbankrupt party (receiver, agent, court officer or assignee) has possession of property of the debtor/estate. How does the Bankruptcy Code define a “custodian," and what rights and responsibilities do custodians have? What rights do the debtor and trustee have? Can the custodian maintain possession of the property, and under what circumstances? Are custodians entitled to any fees/costs, statutory or otherwise, for maintaining possession of the property? Do creditors have to assist in getting the property back from the custodian? If the custodian gives up possession of the property, does it go to the debtor or the trustee?