CHAPTER 7 BANKRUPTCY: A person appointed in a chapter 7 case to represent the interests of the bankruptcy estate and the unsecured creditors. (The trustee’s responsibilities include reviewing the debtor’s petition and schedules, liquidating the property of the estate, and making distributions to creditors. The trustee may also bring actions against creditors or the debtor to recover property of the bankruptcy estate.) The Trustee works under the general supervision of the court and the direct supervision of the United States Trustee. [Source: Bankruptcy Court, District of New Jersey; printed here as “Fair Use” under the US Code]
Recent Posts
SCOTUS: Violating Bankruptcy Discharge Serves Up Creditor for Contempt
By Herbert WigginsIn UncategorizedJune 24, 2022The primary purpose of the bankruptcy stay [11 USC […]BANKRUPTCY LAW: The Curious Case of Alex Jones & InfoWars
By Herbert WigginsIn bankruptcy, BANKRUPTCY LAW, creditorsJune 10, 2022Bankruptcy is a legal proceeding that liquidates […]Jurisdiction And Precedential Effect
By Herbert WigginsIn bankruptcy, BANKRUPTCY LAWMay 20, 2022JURISDICTION AND PRECEDENTIAL EFFECT: The bankruptcy […]