Auctioneers
U.S. Bankruptcy Court for the Western District of Michigan
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(a) Bond Required. An auctioneer employed pursuant to § 327 must be bonded unless the Court specifically orders otherwise. The bond must be drawn in favor of the United States and cover the faithful performance of the auctioneer’s duties to the estate. Unless otherwise directed by the Court, the bond must be in the amount of at least $100,000.
(b) Proceedings on Auctioneer’s Bond. A proceeding on the auctioneer’s bond may be brought in the name of the United States by any party in interest claiming injury because of the auctioneer’s actions.