Series 79: Bankruptcy Trustee

Taken from our FINRA Investment Banking Exam

Definition of the term Bankruptcy Trustee...

also called a case trustee or private trustee. A third party appointed by a bankruptcy court to oversee the liquidation of assets in Chapter 7—or, less often, to run a company in Chapter 11 when the court does not allow the company to act as a debtor in possession. Compare to debtor in possession and U.S. Trustee.

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