What is the statute of limitations for an action under section 546 of the Bankruptcy and Insolvency Act?

That same year we decided Ford v. Union Bank (In re San Joaquin Roast Beef), 7 F.3d 1413 (9th Cir. 1993). In that case, a Chapter 11 trustee had been appointed and subsequently replaced by a Chapter 7 trustee when the case was converted. The Chapter 7 trustee attempted to bring an action to recover a preferential transfer within two years of his own appointment, but beyond the second anniversary of the Chapter 11 trustee's appointment. In response to the trustee's argument that the two year period began to run anew when he was appointed, we held that "the most logical interpretation of section 546(a) is that the statute of limitations begins running from the date the first trustee is appointed and that all subsequent trustees are subject to the same statute of limitations." Id. at 1415.