Receiver in Bankruptcy
/rɪˈsiːvər ɪn ˈbæŋkrʌptsi/
Definitions
- (n.) An individual appointed by a court or trustee to take custody of a bankrupt's estate, manage assets, and distribute proceeds to creditors.
The receiver in bankruptcy sold the debtor's inventory to satisfy outstanding debts.
Forms
- receiver in bankruptcies
See also
Commentary
The role of a receiver in bankruptcy is distinct from that of a trustee, focusing primarily on asset administration under court supervision.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.