trustee in bankruptcy
Also found in: Dictionary, Financial, Acronyms, 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)
Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.