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)

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References in periodicals archive ?
Trustee is a federal employee that appoints and supervises outside trustees in bankruptcy cases.
The Superintendent's Directives are primarily to guide the trustees in bankruptcy in administering bankruptcies.
Trustees in bankruptcy, responsible for realising any assets from his estate, applied to the county court for half the value of Mrs Haines's home.