BusinessBankruptcies.com

Parties

Debtor: A person or entity who has filed a petition for relief under the bankruptcy laws.

Joint Debtor: An additional person or entity also included in the bankruptcy petition.

Petitioning Creditor: Petitioning creditors are those parties to whom one debtor owes money and who apply to the court of bankruptcy in order to secure the debtor's property and distribute it equitably among them.

Debtor Designee: A party designated by the debtor to handle some or all affairs during the bankruptcy process.

Bankruptcy Administrator: Congress established the bankruptcy administrator program in 1986. The bankruptcy administrator offices in the six judicial districts of Alabama and North Carolina oversee the administration of bankruptcy cases, maintain a panel of private trustees, and monitor the transactions and conduct of parties in bankruptcy.

US Trustee: The United States Trustee Program is a component of the Department of Justice that seeks to promote the efficiency and protect the integrity of the Federal bankruptcy system. To further the public interest in the just, speedy and economical resolution of cases filed under the Bankruptcy Code, the Program monitors the conduct of bankruptcy parties and private estate trustees, oversees related administrative functions, and acts to ensure compliance with applicable laws and procedures. It also identifies and helps investigate bankruptcy fraud and abuse in coordination with United States Attorneys, the Federal Bureau of Investigation, and other law enforcement agencies.

Trustee: Provides the name of the representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under general supervision of the court and the direct supervision of the U.S. Trustee or Bankruptcy Administrator.