What is meant by "preserving the bankruptcy estate?"

What will be an ideal response?


The bankruptcy trustee maintains control over the bankruptcy estate and preserves any of the debtor's available assets for the benefit of the creditors or other interested parties. Bankruptcy trustees have the authority to take control of the assets, investigate fraud, uncover hidden assets, and recover property that was transferred fraudulently.

Legal Studies & Paralegal

You might also like to view...

In most jurisdictions, an aggrieved recipient can file a Motion or Complaint for Contempt or a citation with a(n) ________ to enforce a spousal support order that is not being complied with by the payor spouse

Fill in the blank(s) with correct word

Legal Studies & Paralegal

Partition may be by voluntary agreement or by court action. 

Answer the following statement true (T) or false (F)

Legal Studies & Paralegal

A trial de novo is a?

A. ?trial as if no previous hearing or arbitration had been held. B. ?trial before a novice judge. C. ?form of arbitration. D. ?highly publicized trial.

Legal Studies & Paralegal

Life estates are created by:

a. Deed b. Will c. Either a. or b. d. Neither a. nor b.

Legal Studies & Paralegal