bankruptcy trustee

bankruptcy trustee definition - business

bankruptcy trustee

An official appointed by the court to administer and/or liquidate assets of bankrupt individuals and organizations. Trustees have different duties depending on the type of bankruptcy. For example, trustees of Chapter 7 bankruptcies primarily liquidate assets for the benefit of creditors.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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