Trustee In Bankruptcy Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Trustee In Bankruptcy, written in plain English, along with examples of how it is used.

What is Trustee In Bankruptcy?

(n) Trustee in bankruptcy is defined as the person appointed by a bankruptcy court to assess, hold, manage the property and affairs of the bankrupted person and to report to the Court. Courts generally appoint full time professionals qualified for the purpose to run the trust property.