Without delay after the commencement of bankruptcy proceedings, a bankruptcy trustee must evaluate the value of any and all of the property that belongs to the bankruptcy estate at the time of commencement of bankruptcy proceedings. In this case, the bankruptcy trustee may have the bankrupt attend the evaluation.
When they have completed the evaluation under the provisions of the preceding paragraph, a bankruptcy trustee must immediately prepare an inventory of assets and a balance sheet at the time of commencement of bankruptcy proceedings and submit them to the court.
If the total amount of property that belongs to a bankruptcy estate is less than the amount specified by the Rules of the Supreme Court, , with the permission of the court, a bankruptcy trustee may choose not to prepare and submit the balance sheet referred to in that paragraph, notwithstanding the provisions of the preceding paragraph.
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