Member Profile
Eugene Crane

Eugene Crane

Serves in...
Chicago, Illinois

Years as a trustee...
45

Cases per year...
700

Most memorable case...
Ponzi sheme case where I inherited 7 race horses and 40 brood mares. Iraced two horses (and won) and...

Bankruptcy News

State schools superintendent files for bankruptcy
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Small startup airline DayJet ceases operations
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Country singer Lorrie Morgan files for bankruptcy
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Towne Center Tenant Files Bankruptcy
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GM: Bankruptcy 'Not An Option'
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Canon of Ethics

A Chapter 7 Trustee is committed to excellence in the administration of bankruptcy cases and to carry out all duties with the utmost integrity, diligence, and professionalism. Parties are entitled to service that adheres to the highest standards of professional, moral, and ethical conduct. As a fiduciary, a Trustee occupies a significant position of trust and responsibility and is accountable to all in the bankruptcy system and the public at large.
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NABT News



Case Summaries
Spoilation of electronic evidence

Disclosure of unperfected secured creditor on schedules filed with petition does not provide inquiry notice which trumps Trustee's §544(a) strong-arm power

Performance of contractual obligation does not constitute "new value" under §547(c)(4)

First-time transactions may be subject to ordinary course preference defense

Trustee's rights of search and seizure

Trustee may recover preferential transfer even though unsecured creditors will receive no distribution from the recovery