Nolo's Plain-English Law Dictionary

Legal Dictionary Home

Bankruptcy Trustee
A person appointed by the court to oversee a bankruptcy case. In a Chapter 7 case, the trustee's role is to gather the debtor's nonexempt property, sell it, and distribute the proceeds to creditors. In a Chapter 13 case, the trustee's role is to receive the debtor's monthly payments and distribute them to creditors. Businesses can file for Chapter 11 bankruptcy.
LA-NOLO2:DRU1.6.6.3.20150528.32264+