trustee in bankruptcy Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “trustee in bankruptcy” in the English Dictionary

"trustee in bankruptcy" in Business English

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trustee in bankruptcynoun [C]

uk   us   (also assignee in bankruptcy, also bankruptcy trustee) LAW
an ​expert chosen by a ​court to ​deal with the ​assets of a ​bankruptperson or ​business, ​pay their ​debts, and ​check on their ​actions, for ​example, that they are not hiding ​assets: When you went ​bankrupt, all your ​assets became the ​property of your ​trustee in ​bankruptcy.
(Definition of trustee in bankruptcy from the Cambridge Business English Dictionary © Cambridge University Press)
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