Legal Question in Bankruptcy in Florida
Why is the "bond" in rule 2001(b) of the Federal Rules of Bankruptcy Procedure called a bond, and not for example an indemnification?
Here is the text of rule 2001 (b)
Bond of Movant. An interim trustee may not be appointed under this rule unless the movant furnishes a bond in an amount approved by the court, conditioned to indemnify the debtor for costs, attorney's fee, expenses, and damages allowable under �303(i) of the Code.
Asked on 12/29/12, 7:03 am
1 Answer from Attorneys
William Gwaltney
William W. Gwaltney, Attorneys at Law
because it is a BOND and not an indemnification. The two have very different meanings.
Answered on 1/10/13, 11:18 am
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