OPINION
In this case, Jeff A. Moyer, Chapter 7 Trustee, (“Trustee”) appeals an order of the bankruptcy court overruling his objection to Joy Dutkiewicz’s (“Debtor”) claim of exemptions as untimely. For the reasons that follow, we AFFIRM the order of the bankruptcy court.
I. ISSUE ON APPEAL
Whether the bankruptcy court erred when it found that the Trustee’s objection to the Debtor’s claim of exemptions was untimely.
II. JURISDICTION AND STANDARD OF REVIEW
The Bankruptcy Appellate Panel of the Sixth Circuit has jurisdiction to decide this appeal. The United States District Court for the Western District of Michigan has authorized appeals to the Panel, and neither party has timely elected to have this appeal heard by the district court. 28 U.S.C. §§ 158(b)(6), (c)(1). A final order of the bankruptcy court may be appealed as of right pursuant to 28 U.S.C. § 158(a)(1). An order on an objection to a debtor’s claim of exemption is a final order for purposes of appeal.
See Baumgart v. Alam (In re Alam),
The bankruptcy court’s conclusions of law are reviewed
de novo. See Riverview Trenton R.R. Co. v. DSC, Ltd. (In re DSC, Ltd.),
III. FACTS
The Debtor filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code on June 5, 2008. The first meeting of creditors was held on July 15, 2008. The Debtor appeared and answered questions of the Trustee. During the meeting, the Trustee requested that the Debtor provide the Trustee with a copy of the Debtor’s divorce judgment. At the conclusion of his questions, the Trustee stated:
That’s all the questions I have for you at this time. To the extent my review of the information provided to me [or upon receipt of the Divorce Judgment] causes me to need any further information or need to ask any further questions I’ll contact Mr. Andersen’s office directly. Assuming that doesn’t become necessary, I’ll close your file at that time. You should receive notice of your Chapter 7 Discharge 3 to 4 months from today directly from the Bankruptcy Court. Thank you for coming in today and good luck to you.
(J.A. at 34-35.) While the Trustee asserts that the Debtor’s failure to provide a copy of the Debtor’s divorce judgment prior to or at the § 341 meeting resulted in the *106 administration of the Debtor’s estate being delayed, he did not call a subsequent meeting after receiving a copy of the divorce judgment. The record does not reflect when the Trustee actually received a copy of the divorce judgment. On September 16, 2008, the Trustee filed his Report of First Meeting Held, and on September 29, 2008, he filed an objection to the Debtor’s claim of exemptions. The Trustee asserted that funds owed to the Debtor under the divorce judgment were not exempt as spousal support but rather were in the nature of a property settlement.
The Debtor did not oppose the Trustee’s objection on the merits. She contended, however, that the objection was untimely pursuant to Rule 4003(b) of the Federal Rules of Bankruptcy Procedure and
Taylor v. Freeland & Kronz,
The Trustee filed this timely appeal on January 9, 2009. The Debtor filed a motion for certification of direct appeal to the Sixth Circuit Court of Appeals on February 23, 2009. This Panel issued an order denying that motion on April 13, 2009, because the motion did not comply with Rule 8001(f)(3)(C) of the Federal Rules of Bankruptcy Procedure.
See In re Dutkiewicz,
IY. DISCUSSION
Upon the filing of a bankruptcy petition all of the debtor’s property becomes property of the bankruptcy estate. 11 U.S.C. § 541. The Bankruptcy Code, however, permits a debtor to provide a list of exempt property. 11 U.S.C. § 522(b),
(l).
The listed property is allowed as exempt unless a party in interest objects. 11 U.S.C. § 522(l);
Taylor,
Pursuant to 11 U.S.C. § 341, the United States Trustee must convene a meeting of creditors within a reasonable time after the order for relief is entered. Federal Rule of Bankruptcy Procedure 2003 governs the commencement and continuance of the meeting of creditors. Rule 2003(e) provides that the meeting “may be adjourned from time to time by announcement at the meeting of the adjourned date and time without further written notice.” While Rule 2003(e) permits the trustee to adjourn and continue the meeting at some later date, neither the Bankruptcy Code nor the Federal Rules of Bankruptcy Procedure specify the manner in which the meeting is to be “concluded.”
In re Cherry,
The parties here agree that the meeting of creditors required by 11 U.S.C. § 341 was scheduled and held on July 15, 2008. They disagree, however, as to when the meeting “concluded” for purposes of Rule 4003(b). The Trustee contends that *107 the July 15, 2008, meeting was adjourned and not concluded until he filed his Report of First Meeting Held on September 16, 2008. The Debtor asserts that the meeting concluded on July 15, 2008, because the Trustee did not properly adjourn the meeting pursuant to Rule 2003(e). The bankruptcy court held that the meeting concluded on July 15, 2008, and overruled the Trustee’s objection as untimely.
The issue of when a § 341 meeting has “concluded” for purposes of Rule 4003(b) has not been addressed by the United States Supreme Court, the Sixth Circuit Court of Appeals, or the Bankruptcy Appellate Panel for the Sixth Circuit. However, other courts, including the Fifth and Ninth Circuit Courts of Appeals, have considered the issue. At least three approaches have emerged: the bright-line, the debtor’s burden, and the case-by-case approach.
Pursuant to the “bright-line” approach, which has been adopted by the Ninth Circuit Court of Appeals, the trustee must announce a specific date to which the meeting is being adjourned within 30 days of the last meeting held or the meeting will be deemed to have concluded on the last date it was convened.
See Smith v. Kennedy (In re Smith),
Under the “debtor’s burden” approach, the meeting is concluded either when the trustee declares it concluded, or the debtor obtains a court order concluding the § 341 meeting.
See In re Koes,
The case-by-case approach, which has been adopted by the Fifth Circuit Court of Appeals, considers the facts and circumstances on a case-by-case basis to determine whether a meeting of creditors was concluded or adjourned.
See In re Peres,
The bankruptcy court in the present case stated that it “favor[ed] the case-by-case approach ... as more faithful to the text and policy of Rule 2003(e).” (J.A. at 121.) The court then went on to state:
[A] bright-line is necessary. It is, therefore, reasonable to conclude that the adjournment of the first meeting of creditors must be effected by some objective notification to the debtor and creditors, so each knows where that bright line falls.Rule 4003(b)(1), with its strict 30 day deadline, is very unforgiving. Freeland & Kronz, supra.
(J.A. at 121.) The court then explained that Rule 2003(e) requires objective notice by the trustee of his intent to adjourn the meeting, notice which must be written unless the trustee gives specific oral notice of a new date and time for the meeting to everyone present. The court noted that expressing the need for further questioning or investigation does not by itself continue the meeting without also providing prompt written notice of adjournment. The bankruptcy court found that the Trustee’s statements at the meeting suggested only that his investigation was not complete and did not “qualify as an unequivocal and specific oral announcement ... to adjourn the First Meeting,” and that no written notice of an adjourned date was provided within a reasonable time following the July 15, 2008, meeting. Therefore, the bankruptcy court held that the meeting concluded on July 15, 2008, and the objection, filed more than two months later, was untimely. The Trustee also argued before the bankruptcy court that by analogy to the rules governing entry of
*109
judgments, Federal Rules of Bankruptcy-Procedure 9021 and 5003, the court should adopt the entry of the Trustee’s Report of First Meeting Held filed on September 16, 2008, as the date the first meeting was concluded. The bankruptcy court rejected this argument. The Trustee did not present this argument before us, and, therefore, it is waived.
See United States v. Elder,
The Trustee argues that although the bankruptcy court stated that it favored the case-by-case approach, it nevertheless applied a bright-line test by essentially requiring that the Trustee give a specific date and time orally at the meeting, or written notice of an adjourned date within a reasonable time after the first meeting. He also asserts that the bankruptcy court failed to consider the reasonableness of his actions. The Trustee urges us to hold that his statements at the meeting on July 16, 2008, constituted holding the meeting open, that his actions were reasonable, and that the meeting was not concluded until September 16, 2008, when he filed his Report of First Meeting Held.
The Debtor urges us to adopt an entirely different approach under which the meeting always concludes on the date it is initially held. This approach, she urges, has the advantage of providing a “simple rule with an objective standard that is easily applied.” (Appellee’s Br. at 7.) In urging this approach, the Debtor notes that the Bankruptcy Code and Federal Rules of Bankruptcy Procedure do not define the words “meeting” or “concluded” and that therefore we must turn to their ordinary and natural meanings.
See U.S. v. McBride,
Black’s Law Dictionary (“Black’s”) defines “meeting,” in pertinent part, as “[a] coming together of persons; an assembly.” BLACK’S LAW DICTIONARY 982 (6th ed.1990). Black’s defines “concluded” as “[ejnded; determined; estopped; prevented from.” Id. at 290. According to the Debtor, in the context of Rule 4003 the word “concluded” means “ended.” She asserts then that because a meeting is a gathering of people, a meeting ends or “concludes” when those persons are no longer gathered. Therefore, under a “plain meaning” approach, adjourned meetings do not constitute a single, continuous meeting, but rather a series of meetings with each meeting concluding when the necessary parties, the trustee and debtor, leave. Consequently, “[bjecause the end of the initial meeting in a series of meetings is the first time at which it can be said that a meeting has ‘concluded,’ the deadline to object to exemptions should be construed as always running from this date.” (Appellee’s Br. at 6.) Under the Debtor’s proposed approach, the bankruptcy court should be affirmed because the meeting concluded on the day it was convened. We reject the Debtor’s suggested approach, however, because the language of Rule 2003(e) does not provide for a series of individual meetings. Rather, Rule 2003(e) provides: “The meeting may be adjourned from time to time.” Fed. R. Bankr.P.2003(e) (emphasis added).
The only two circuit courts to address this issue have rejected the debtor’s burden approach. In
Smith,
the Ninth Circuit Court of Appeals rejected the approach as paying insufficient heed to the Supreme Court’s interest in firm, explicit deadlines as expressed in
Taylor,
The only meeting held in this case was on July 15, 2008. The Trustee did not announce an adjourned date within 30 days from that date. Therefore, under the bright-line approach, the meeting was concluded on July 15, 2008, and the Trustee’s objection to the Debtor’s claim of exemptions, which was not filed until more than two months later, was untimely. Applying the case-by-case approach and the factors set forth by the Fifth Circuit in Peres, we would agree with the bankruptcy court that the meeting was concluded on July 15, 2008. In arguing that the meeting was not concluded until September 16, 2008, the Trustee focuses on the relatively short delay of approximately two months between the initial meeting on July 15, 2008, and the September 16, 2008, filing of his Report of First Meeting Held, as compared to much longer delays in other cases where courts have found the actions of trustees reasonable. While the delay of approximately two months here was indeed relatively brief, the estate was not complex, and the Debtor was cooperative. More importantly, the Trustee did not state clearly that he was keeping the meeting open, which created ambiguity as to whether he was continuing or concluding the meeting. As the bankruptcy court stated, expressing the possible need for further questioning or investigation does not by itself continue the meeting. For example, the Trustee’s possible need for further information or further questions, expressed at the July 15, 2008, meeting, might well have been handled informally through Debtor’s counsel, as the Trustee indicated, or through a Rule 2004 examination.
This ambiguity as to whether the meeting was ever adjourned distinguishes the present case from the cases cited by the Trustee.
Cf. In re Peres,
Y. CONCLUSION
For the foregoing reasons, the order of the bankruptcy court overruling the Trustee’s objection to the Debtor’s claim of exemptions is AFFIRMED.