Trustee In Bankruptcy


Definition of "Trustee in bankruptcy"

Treasure A. Faircloth real estate agent
Treasure A. Faircloth, Real Estate Agent Allen Tate Realtors

Person selected by a judge or creditors of a bankrupt individual to handle matters including the sale of the bankrupt's assets, management of the funds from the sale of those assets, payment of expenses, and distribution of the balance to creditors. The trustee is usually compensated with a specified percentage of the liquidation value.

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