Trustee in bankruptcy

{
  "id": "MLC-T-LAW-005009",
  "term": "Trustee in bankruptcy",
  "field": "Law",
  "definition": "An individual or corporation appointed by the court to administer the assets of a debtor in a bankruptcy proceeding. This party collects the debtor's non-exempt property, liquidates it, and distributes the proceeds to creditors according to the priorities established by bankruptcy law. The trustee represents the bankruptcy estate and acts as a fiduciary for both the debtor and creditors.",
  "see_also": [
    "bankruptcy trustee"
  ],
  "url": "https://mlchart.com/terminology/law/trustee-in-bankruptcy/"
}