- Chapter 7 trustee
- Chapter 7 trustee
a person appointed in a Chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors (Glossary of Common Bankruptcy Terms)A person appointed in a chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors. (The trustee's responsibilities include reviewing the debtor's petition and schedules, liquidating the property of the estate, and making distributions to creditors. The trustee may also bring actions against creditors or the debtor to recover property of the bankruptcy estate.) (BankruptcyAction.com)
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.
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trustee — an agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor s management should not remain in their … Glossary of Bankruptcy
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trustee in bankruptcy — trustee in bankruptcy: an officer of the court in whom ownership of a debtor s property is vested for the benefit of the creditors and who administers the property for the purpose of making payments to the creditors according to the priority of… … Law dictionary
Chapter 7 — liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. Individuals may file Chapter 7 also (Glossary of Common Bankruptcy Terms) A liquidation proceeding available to individuals, married couples,… … Glossary of Bankruptcy
Chapter 11 — chap·ter 11 n: chapter 11 of the U.S. Bankruptcy Code see also bankruptcy code in the important laws section Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
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