Trustee in Bankruptcy
Definitions
- (n.) An official appointed to administer and distribute the assets of a bankrupt individual or business, overseeing the bankruptcy process according to law.
The trustee in bankruptcy sold the debtor's assets to repay creditors.
Forms
- trustee in bankruptcy
- trustees in bankruptcy
Related terms
See also
Commentary
The trustee in bankruptcy acts as a fiduciary with statutory duties; precise powers and appointment methods may vary by jurisdiction.
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.