In each bankruptcy filing case, the bankruptcy court appoints a bankruptcy trustee to oversee
each bankruptcy process. The role of the bankruptcy trustee in a bankruptcy case is critical as shall be discussed
What is the bankruptcy trustee? What is the role of a bankruptcy trustee?
A bankruptcy trustee is not a lawyer. A bankruptcy trustee is an individual or a corporation
licensed by the government and appointed by the bankruptcy court to conduct each bankruptcy process.
Who pay the bankruptcy trustee?
The bankruptcy trustee of a particular bankruptcy case is paid by
the person filing bankruptcy out of the assets of the person's bankruptcy estate.
What do bankruptcy trustees do? What are the duties of a bankruptcy trustee?
The duties of a bankruptcy trustee include:
reviewing the bankruptcy case and advise the person filing bankruptcy of any alternatives to
administering the bankruptcy proposal
liquidating nonexempt properties and raising cash to pay creditors
overseeing the bankruptcy case through the end to ensure that the bankruptcy process complies with the
Bankruptcy and Insolvency Act.