What is the Function of a Trustee?

Bankruptcy and Trustee

Find out the role of a trustee during bankruptcy

The trustee will make all appropriate investigations into the bankrupt estate and the financial affairs of the bankrupt, these investigations can date back a certain period in order to ascertain whether or not invalid transactions have taken place- i.e. transactions/transfers to defeat creditors, preferential payments etc. Consult with our bankruptcy attorney for more information on bankruptcy and trustee.

The trustee will report all investigations to ITSA. When appropriate investigations have taken place and the divisible estate has been realized, the trustee will then make distributions to creditors in proportion to their debts. The trustee will have an unbiased ethic, with the objective to ascertain the divisible value of the bankrupt estate, and then make appropriate distributions to creditors to satisfy debt.

Call us for advice on bankruptcy and trustee.

Insolvency Professional Partners: The Migration Place | The Law Place | Irish Bentley