Definition of trustee in bankruptcy in English:

trustee in bankruptcy

noun

Law
  • A person taking administrative responsibility for the financial affairs of a bankrupt and the distribution of assets to creditors.

    • ‘On bankruptcy, the assets of the bankrupt vest in his trustee in bankruptcy whose duty is to realize these so far as possible to meet his debts.’
    • ‘This is an involuntary effect of the law relating to bankruptcy which transfers the bankrupt's interest to his trustee in bankruptcy when a bankruptcy order is made.’
    • ‘Several defendants were named, including the former trustee in bankruptcy.’
    • ‘Had he found out at that stage, it would have been clear that the estate was already in bankruptcy and in the hands of the trustee in bankruptcy.’
    • ‘Have you received the consent of the trustee in bankruptcy of your bankrupt estate to bring this application?’