In bankruptcy proceedings, one of the main functions is that of the bankruptcy trustee.
1. Function, competence and limitations:
With the opening of the procedure, a temporary bankruptcy trustee must be appointed, after which the permanent bankruptcy trustee is elected by the creditors’ meeting, which monitors the regular course of the entire procedure. The bankruptcy trustee, in addition to the powers identical to those of the permanent bankruptcy trustee, has the obligation to prepare initial documents such as a list of creditors, a list of creditors who are or were connected to the debtor in the last three years before the opening of bankruptcy proceedings, a statement of the balance sheet of the company, etc. Next follows the first meeting of creditors with accepted credits, at which a permanent bankruptcy trustee is appointed.