Bankruptcy Glossary Definition (English)
Trustee Defined
The following is in context to Bankruptcy, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"The representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the U.S. trustee or bankruptcy administrator. The trustee is a private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases and some chapter 11 cases. The trustee's responsibilities include reviewing the debtor's petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate. In chapter 7, the trustee liquidates property of the estate, and makes distributions to creditors. Trustees in chapter 12 and 13 have similar duties to a chapter 7 trustee and the additional responsibilities of overseeing the debtor's plan, receiving payments from debtors, and disbursing plan payments to creditors."
Additional Languages
Additional Trustee Definition Starting Points
The following links are listed in alphabetical order. Please note we cannot guarantee Trustee definitions are contextually accurate to Bankruptcy at third party websites.
