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LAWDOG® Bankruptcy

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LAWDOG BANKRUPTCY DICTIONARY

Custodian


LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.


Under 11 U.S.C. Section 101, the term:

(11) ''custodian'' means -

(A) receiver or trustee of any of the property of the debtor,appointed in a case or proceeding not under this title;

(B) assignee under a general assignment for the benefit of the debtor's creditors; or

(C) trustee, receiver, or agent under applicable law, or under a contract, that is appointed or authorized to take charge of property of the debtor for the purpose of enforcing a lien against such property, or for the purpose of general administration of such property for the benefit of the debtor's creditors;


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