trustee in bankruptcy

(redirected from Bankruptcy trustee)
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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 ?
Two cases under prior law held that the bankruptcy trustee could not use the onetime exclusion for individuals over age 55: In re Mehr (Bktcy Ct.
If the customer files in a timely manner for bankruptcy protection after making the potentially preferential transfer to you, either the customer or a bankruptcy trustee may sue you to recover it later.
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.
Note that the specific options available to a bankruptcy trustee are beyond the scope of this article.
If the case is under Chapter 7, the election requires the written consent of the bankruptcy trustee and a copy of the consent is to be filed with both the debtor's and the estate's tax returns.
Keser kept jackets, sweat suits, caps, gloves, watches and other merchandise in his garage, his car trunk and in a storage locker, in order to conceal them from his bankruptcy trustee, officials claim.
The bankruptcy trustee has the same obligations as the liquidating trustee.
Although now able to sell and remove cars from the lot, a court-appointed bankruptcy trustee will decide how revenues should be distributed to ensure that creditors are paid, an official said Wednesday.
In January 2005, the Company had entered into a settlement agreement to pay the bankruptcy trustee its debts owed the bankrupt lender.
Before that, she was a legal assistant at Milwaukee-based ONeil, Cannon, Hollman, DeJong & Laing and spent five years as an assistant to a Chapter 7 bankruptcy trustee for the U.
They instructed bankruptcy trustee Miroslav Anastasievski and the creditor banks to devise a plan in no more than 45 days to make sure Feni continues operating.
if he would interfere with the bankruptcy proceedings, as the bankruptcy trustee is the one in charge of addressing the current problems of this company.