The meaning of TRUSTEE is a natural or legal person to whom property is legally committed to be administered for the benefit of a beneficiary (such as a person or a charitable organization). How to use trustee in a sentence.
Trustees underChapter 13 bankruptcyare “standing trustees” because they have standing appointments to the bankruptcy cases in specific geographic areas. Since the debtor hopes to retain the possession of the property in such a bankruptcy, thus, the primary responsibility of the trustee revolves around...
The meaning of TRUSTEE is a natural or legal person to whom property is legally committed to be administered for the benefit of a beneficiary (such as a person or a charitable organization). How to use trustee in a sentence.
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Also Read:Bankruptcy Trustee – Meaning, Responsibilities, and More There are only two parties in a mortgage – borrower and the lender. On the other hand, there are three parties – borrower, lender, and trustee – in a Deed of Trust. ...
In Bankruptcy cases a court may appoint a trustee to manage the funds of the insolvent party. Trustees who are appointed by bankruptcy courts are paid for their services from public funds. Trustees who manage trusts for private parties also are paid for their services, but their compensation com...
Notwithstanding the foregoing, to the extent that the Reorganized Debtors dispute any portion of the Indenture Trustees' Expenses, the Reorganized Debtors shall reserve Cash on the Effective Date in such Disputed amount and such dispute shall be presented to the Bankruptcy Court for adjudication. ...
Examples of Creditor Trustee(s in a sentence The Creditor Trustees shall be entitled to reasonable compensation and to retain and reasonably compensate counsel and other professionals to assist in their duties without Bankruptcy Court approval, subject to the provisions of the applicable Creditor Trust...
Bankruptcy trustees evaluate and make recommendations about various debtor and creditor demands in accordance with the U.S. Bankruptcy Code but a bankruptcy judge has the ultimate authority on the distribution of assets to settle debts. A bankruptcy trustee works with thebankruptcy courtto take any a...
A trustee is often designated by the original owner of the assets, called the trustor. In some cases, a trustee may be assigned by a court. A trustee may be appointed for various purposes, such as in the case of bankruptcy, for a charity, or for a trust fund. ...