Avalanche Maritime, Ltd. v. Parekh

In this issue of first impression before the Ninth Circuit, the clear language of the statute, 11 U.S.C. § 546(a) (1994),1 mandates that the limitations period begins to run at the time of appointment of the permanent trustee under § 702. The statute says nothing about § 701 (interim trustee) and neither should we-to do so is to rewrite the statute. While I agree that the unsecured creditors had standing to pursue these claims, I respectfully disagree with the majority’s conclusion that those claims are time-barred because the statute of limitations begins to run upon appointment of an…