Bankruptcy Administrator

BANK-rupt-see ad-MIN-uh-stray-ter
A court-appointed official responsible for overseeing the administration of bankruptcy cases. The administrator's duties may include collecting and liquidating the debtor's assets, distributing the proceeds to creditors, ensuring compliance with bankruptcy laws, and overseeing the debtor's financial affairs.
The bankruptcy administrator filed a motion to recover assets that the debtor had transferred fraudulently before filing for bankruptcy.
In the Bernard Madoff Ponzi scheme case, Irving Picard was appointed as the bankruptcy administrator to oversee the liquidation of Madoff's assets and distribute the proceeds to the defrauded investors.
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Frequently Asked Questions

What are the qualifications to become a bankruptcy administrator?

The qualifications vary depending on the jurisdiction, but generally include legal or accounting experience, knowledge of bankruptcy law, and demonstrated integrity and impartiality.

What is the role of a bankruptcy administrator in a Chapter 7 case?

In a Chapter 7 case, the bankruptcy administrator is responsible for collecting and liquidating the debtor's non-exempt assets, distributing the proceeds to creditors according to the priority of their claims, and closing the case.

How can I contact the bankruptcy administrator assigned to my case?

You can find the contact information for the bankruptcy administrator assigned to your case in the court documents or by contacting the bankruptcy court clerk.

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