Asked by Melissa Cooper on May 31, 2024
Verified
A________ is a person appointed by the bankruptcy court to administer the debtor's estate in the interests of both the debtor and the creditors. He or she collects and reduces to cash the estate in property and closes up the estate as speedily as is compatible with the best interests of the parties.
A) bankruptcy judge
B) U.S. trustee
C) bankruptcy trustee
D) U.S. attorney
Bankruptcy Court
A specialized federal court handling cases related to bankruptcy filings and proceedings.
Bankruptcy Trustee
An individual appointed by the court to oversee and manage the bankruptcy process, ensuring that creditors receive as much debt repayment as possible.
Debtor's Estate
The total sum of a debtor's legal and equitable interests and assets at the time of bankruptcy filing or death.
- Grasp the role and responsibilities of a bankruptcy trustee in the context of bankruptcy proceedings.
Verified Answer
LL
lihong liangJun 02, 2024
Final Answer :
C
Explanation :
A bankruptcy trustee is the individual responsible for overseeing and managing the bankruptcy process, including the debtor's assets, for the benefit of the creditors and the debtor, as described in the statement.
Learning Objectives
- Grasp the role and responsibilities of a bankruptcy trustee in the context of bankruptcy proceedings.