Trustee (bankruptcy)

A trustee in bankruptcy is a court-appointed individual or entity responsible for managing a bankrupt person's or company's financial affairs. Their main roles include assessing the debtor’s assets, evaluating claims from creditors, and distributing any available funds to those creditors. The trustee ensures that the bankruptcy process is fair and that creditors are treated according to the law. They help facilitate the liquidation of assets or the execution of a repayment plan, ultimately guiding the debtor through the legal proceedings to resolve their financial difficulties.