Private Trustee Reform Act of 1998

Private Trustee Reform Act of 1997 - Amends title 11 of the United States Code (bankruptcy provisions) to grant the court authority, upon motion of an appointed standing trustee, to determine the actual, necessary expenses of such trustee. Directs the court to consider all relevant factors, including whether the expense: (1) will benefit the administration of cases by the trustee; and (2) is reasonable, based upon the customary and usual expenses incurred by fiduciaries providing services of comparable nature in matters other than cases under such title.

Provides that, in the event the United States trustee decides to cease assigning cases to an appointed standing trustee, the appointed trustee may seek judicial review of such decision. Allows the court to reverse the decision only if the U.S. trustee acted unreasonably or without cause. Deems the failure of the U.S. trustee to make a final administrative disposition of an appointed trustee's request to reconsider the decision to cease assigning cases within 30 days of such request to be an exhaustion of all administrative remedies.

Authorizes the court, pending the exhaustion of available administrative remedies or a judicial determination on the merits, to order injunctive relief in favor of the appointed trustee.