§765 Customer Instructions

Summary

Notices sent under section 342 must tell customers to file a proof of claim right away and to name any specific security, property, or commodity contract they are claiming. The notice must also ask the customer to tell the trustee how they want any named commodity contract handled, for example moved under section 766 or liquidated (sold). The trustee must follow a customer’s instruction about a named commodity contract when it is practical to do so. If the trustee already moved the contract under section 766, the trustee must pass the customer’s instruction on to the commodity broker who received the contract.