bankruptcy trustee

bankruptcy trustee
bankruptcy trustee n: trustee in bankruptcy

Merriam-Webster’s Dictionary of Law. . 1996.

bankruptcy trustee
n.
A person appointed by the court to handle a debtor’s property during bankruptcy proceedings.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


bankruptcy trustee
A person appointed by the court to oversee a bankruptcy case. In a Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, sell it, and distribute the proceeds to creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them to creditors. Businesses can file for Chapter 11 bankruptcy.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy

Nolo’s Plain-English Law Dictionary. . 2009.

bankruptcy trustee
USA
bankruptcy trustee/trustee
This term has a number of meanings. In the context of:
• Bankruptcy: A trustee is also known as the bankruptcy trustee. The official representative of the estate appointed to represent the interest of creditors and administer the estate during the bankruptcy proceedings. The role of the trustee varies under the different chapters of the Bankruptcy Code.
• Securities and capital markets: A trustee is also referred to as the indenture trustee. The agent of the holders of the debt securities issued by a company who handles all the administrative aspects of the debt securities and the indenture, including ensuring that such company complies with the terms in the indenture.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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