One of the mysteries of the English language finally explained.
A person taking administrative responsibility for the financial affairs of a bankrupt and the distribution of assets to creditors.
- ‘Several defendants were named, including the former trustee in bankruptcy.’
- ‘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.’
- ‘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?’
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