Legal Dictionary of Pakistan

trustee ex maleficio

A person who is guilty of wrongful or fraudulent conduct and is held by equity to the duty of a trustee, in relation to the subject matter, to prevent him or her from profiting from the wrongdoing. 2. Bankruptcy. An officer of the court who is elected by creditors or appointed by a judge to act as the representative of a bankruptcy estate. ( The trustee's duties include (1) collecting and reducing to cash the assets of the estate, (2) operating the debtor's business with court approval if appropriate to preserve the value of business assets, (3) examining the debtor at a meeting of creditors, (4) filing inventories and making periodic reports to the court on the financial condition of the estate, (5) investigating the debtor's financial affairs, (6) examining proofs of claims and objecting to improper claims, (7) furnishing information relating to the bankruptcy to interested parties, and (8) opposing discharge through bankruptcy, if advisable. - Also termed (in sense 2) bankruptcy trustee; trustee in bankruptcy.