Cap. 13 Art. 488Appointment of bankruptcy trustee.

(1)The court shall, in the judgment declaring bankruptcy, appoint one (1) or more persons as the bankruptcy trustee to exercise the functions assigned to the bankruptcy trustee under this Part: Provided that, where more than one (1) person is appointed as the bankruptcy trustee, the persons so appointed shall be appointed to act jointly as the bankruptcy trustee and they shall be jointly responsible for the exercise of the functions assigned to the bankruptcy trustee under this Part.

(2) The bankruptcy trustee shall be deemed to be an officer of the court, and as such shall be subject to the orders of the same.

(3) In the event of the death, interdiction, incapacitation or resignation of the bankruptcy trustee or any one (1) or more of the persons so appointed, the court shall, at the instance of any interested person or on its own motion, release the said person or persons of their appointment. The court shall appoint one (1) or more other persons as the substitute bankruptcy trustee, and immediately upon the appointment being made, the provisions of articles 486, 489 and 490 shall apply mutatis mutandis to the substitute bankruptcy trustee.

(4) Any interested party may, within twenty (20) days from the publication of the notice referred to in article 490, apply to the court for the substitution of the bankruptcy trustee on the basis that the latter is not fit and proper, whether due to the subsistence of a conflict of interest or for any other valid reason.