Bankruptcy Trustee Legal Meaning and Definition

Here is a simplified definition of the legal term Bankruptcy Trustee.

Bankruptcy Trustee (noun):

A Bankruptcy Trustee is a person or organization, typically appointed by a court, who manages the property or assets of an individual or business who has been declared bankrupt. They ensure that the creditors' interests are protected, mostly by distributing the bankrupt's assets amongst creditors to repay outstanding debts.