Parekh

concurring in part and dissenting in part:

In this issue of first impression before the Ninth Circuit, the clear language of the statute, 11 U.S.C. § 546 (a) (1994), 1 mandates that the limitations period begins to run at the time of appointment of the permanent trustee under § 702. The statute says nothing about § 701 (interim trustee) and neither should we-to do so is to rewrite the statute. While I agree that the unsecured creditors had standing to pursue these claims, I respectfully disagree with the majority’s conclusion that those claims are time-barred because the statute of limitations begins to run upon appointment of an interim trustee under § 701.

As the Supreme Court reminded us in interpreting the Bankruptcy Code in United States v. Ron Pair Enterprises, Inc.,

489 U.S. 235, 241 , 109 S.Ct. 1026 , 103 L.Ed.2d 290 (1989) (citations omitted). Here, too, a plain reading of the statute should end the inquiry. Section 546(a) expressly states that the statute of limitations commences when a trustee under § 702, not § 701, takes office:

11 U.S.C. § 546 (a) (emphasis added).

The majority’s holding ignores the explicit reference to § 702 and instead reads § 701 into the…

*1030 Opinion by Judge BRUNETTI; Partial Concurrence and Partial Dissent by Judge McKEOWN.

We must decide whether the statute of limitations under the pre-1994 version of the Bankruptcy Code begins running from the date of appointment of the interim trustee or from the date of qualification of the permanent trustee.

I.

The relevant dates in this case are as follows:

1) On April 19, 1993, Parmetex, Inc. (“Parmetex”) filed a Chapter 7 bankruptcy petition.

2) On May 4, 1993, Charles Daff (“Daff’) accepted his appointment as interim trustee under 11 U.S.C. § 701 .

3) The meeting of creditors held pursuant to 11 U.S.C. § 341 (a) was set for May 25, 1993, but did not actually occur until June 22, 1993, at which time Daff became the permanent trustee.

4) On May 25, 1995 unsecured creditors Avalanche Maritime, Ltd. and Mountain Peak Maritime, Ltd. (the “Creditors”), filed an adversary complaint in bankruptcy court to avoid allegedly fraudulent, preferential and post-petition transfers by Par-metex. The Complaint was filed against a number of parties, including Sunil Parekh, Jr., Sevanti Parekh, Reshma Parekh, Jit-endra Kapadia, Bank of Baroda and Cali-par Trading, Inc., Shustak,…