trustee in bankruptcy

(redirected from Bankruptcy trustee)
Also found in: Dictionary, Financial, Wikipedia.

trustee in bankruptcy

n. a person appointed by a bankruptcy court to supervise the affairs of person or business which is in bankruptcy, determine both assets and debts, marshal (gather) and manage the assets if necessary, and report to the court. Most trustees in bankruptcy are full-time professionals and are paid from the estates of the debtors. (See: bankruptcy)

References in periodicals archive ?
For the taxpayer himself to have reported the sale, the bankruptcy trustee would have had to abandon the property.
Bevel, the Dallas lawyer who represented Rice, the bankruptcy trustee, told Arkansas Business in an email that he was "fairly certain" that the $47.
Bigger protection for creditors in bankruptcy proceedings, shorter deadlines in the bankruptcy proceedings, electronic sale of the assets of the bankrupt firms and electronic appointment of bankruptcy trustees are some of the novelties in the modifications to the Bankruptcy Law, which Economy Minister Valon Saraqini presented at a press conference Thursday.
In the end, the bankruptcy trustee agreed with the sale as long as $500,000 of proceeds at closing be put in escrow.
281 BR 600 (WD PA 2002), S shareholders were allowed to retain (1) prepetition dividends and (2) tax refunds stemming from the use of the debtor's pre-petition net operating losses, rather than turning them over to the Chapter 7 bankruptcy trustee for distribution to the debtor's creditors.
The pilots' union at Hawaiian Airlines is seeking to stop the airline's bankruptcy trustee from suspending payments to the pilots' pension plan.
Byron Moldo, the bankruptcy trustee, is now holding $250,000 in assets liquidated from the store, said Encino bankruptcy attorney Alan Nahmias.
Once the bankruptcy trustee determines the applicable property exemptions, he or she assembles the debtor's nonexempt property to pay off creditors.
A major development site at the southeastern corner of 96th Street and Third Avenue could be sold in July through a bankruptcy trustee for more than $9 million.
The decision led the court's bankruptcy trustee to file a motion last week to dismiss Barber's Aug.
Thus, it voided Y's repayment of $50,467 to X and ordered X and Y as X's trustee, to pay the sum to the bankruptcy trustee.
A US bankruptcy trustee has allegedly objected to US Airways' plans to emerge from Chapter 11 bankruptcy protection.