BANKRUPTCY TRUSTEE
\bˈaŋkɹʌptsi tɹˈʌstiː], \bˈaŋkɹʌptsi tɹˈʌstiː], \b_ˈa_ŋ_k_ɹ_ʌ_p_t_s_i t_ɹ_ˈʌ_s_t_iː]\
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A person appointed by the court to oversee the case of a person or business that has filed for bankruptcy. In a consumer Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, liquidate it and distribute it proportionally to her creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them proportionally to her creditors.
By Oddity Software
