appointment as trustee in bankruptcy
1trustee — an agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor s management should not remain in their …
2appointment — The act of designating, or the acquisition of some, responsibility or position. For example, the Court can appoint a Trustee in Bankruptcy as Receiver of some property. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms …
3trustee in bankruptcy — One to whom the administration of a bankrupt estate is delegated and confided. 9 Am J2d Bankr § 621. The Bankruptcy Act specifies either one or three trustees for a bankrupt estate, and there is nothing in the Bankruptcy Act or the General Orders …
4trustee — trust·ee 1 /ˌtrəs tē/ n 1: one to whom something is entrusted: one trusted to keep or administer something: as a: a member of a board entrusted with administering the funds and directing the policy of an institution or organization b: a country… …
5Bankruptcy Law — Bankruptcy proceedings are started by a bankruptcy petition, which may be presented to the court by (1) a creditor or creditors; (2) a person affected by a voluntary arrangement to pay debts set up by the debtor under the Insolvency Act (1986);… …
6Bankruptcy — Notice of closure attached to the door of a computer store the day after its parent company declared bankruptcy (strictly, put into administration see text) in the United Kingdom. Bankruptcy is a legal status of an insolvent person or an… …
7election of trustee — In a Chapter 7 case, the creditors have the option to elect a trustee, at the meeting of creditors, to replace the interim trustee. For such an election to occur, creditors representing at least 20% of the claims must request a vote and a… …
8Trustee — is a legal term that refers to a holder of property on behalf of a beneficiary. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non charitable purposes): typical examples are a… …
9official trustee — An official trustee in bankruptcy under a former practice, now prohibited, of recognizing a particular corporation in the federal district as entitled to appointment as trustee in bankruptcy in all cases arising in the district requiring a… …
10bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… …
