trustee in bankruptcy

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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 ?
Some functions in the bankruptcy process have been moved from the bankruptcy court to the trustees in bankruptcy or to the Superintendent's Office.
The bankruptcy court can assist foreign trustees in bankruptcy regarding assets located in Canada.