Trustee in bankruptcy

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Trustee in bankruptcy

An appointed trustee who supervises and administers the affairs of a bankrupt company or individual.

Trustee In Bankruptcy

A court- or government-appointed person who manages assets in bankruptcy. In the United States, trustees in bankruptcy have different duties depending on the type of bankruptcy filed. In Chapter 7 bankruptcy, the trustee liquidates all non-exempt assets and distributes the proceeds to creditors according to bankruptcy law and the court's directions. In Chapter 13 bankruptcy, the trustee reviews the debtor's plans and collects and distributes payments to creditors. In Canada, trustees in bankruptcy hold assets in trust and distribute them to creditors according to the dictates of the Bankruptcy and Insolvency Act.
References in periodicals archive ?
BMS), the leading provider of case administration software and services to bankruptcy trustees, receivers and other fiduciaries, today announced that Dave Beltran has rejoined the company as its Chief Client Officer.
The suggested modifications also set terms within which action has to be taken within the framework of the bankruptcy proceedings and that in case of unjustified delays the bankruptcy trustee may be relieved of duty.
She said: "Previous case law established that orders made under Family Law (Matrimonial Causes Act 1973) were exempt from challenges from bankruptcy trustees when the order had been made within contested proceedings and before the bankruptcy petition had been presented.
Once the bankruptcy trustee determines the applicable property exemptions, he or she assembles the debtor's nonexempt property to pay off creditors.
Although briefed and argued, the Ninth Circuit did not address whether the doctrine of in pari delicto applies to bankruptcy trustees.
Analyses have so far shown that most bankruptcy cases have been distributed to only few bankruptcy trustees.
She provides forensic accounting and litigation support services to attorneys, bankruptcy trustees, court-appointed receivers, and state and federal governmental agencies in complex matters involving economic damages, white-collar crime, fraud and embezzlement in the United States, Latin America and the Caribbean.
Nonprofit organization will exhibit at National Association of Bankruptcy Trustees event in Scottsdale, Arizona
The bankruptcy trustees claimed the section 4971 liability was not an excise tax but a disguised penalty and thus not entitled to priority under section 507(a)(7)(E) of the Bankruptcy Code.
Our clients include leading law firms, corporate legal departments, bankruptcy trustees, and other professional advisors who require sophisticated case administration and document management capabilities, extensive subject matter expertise and a high service capacity.
The television channel has been informed about the bankruptcy proceedings, as Aco Petrov, president of the chamber of bankruptcy trustees, has been appointed as A1's temporary bankruptcy trustee.
0, a major new version of its TCMS software application for Chapter 7 bankruptcy trustees that is scheduled for production release during the first quarter of 2002.