Bankruptcy Glossary


A person who serves as the representative of a bankruptcy estate, under the general supervision of the court and under the direct supervision of a U.S. trustee or bankruptcy administrator. In all Chapter 7 and 13 cases, the trustee is a private individual or corporation. A trustee's responsibilities include examining the debtor's papers, running the initial meeting of creditors, and (in Chapter 7 filings) selling property of the estate and distributing proceeds to creditors.
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