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What is a trustee?

A trustee is a person who usually has a legal background who supervises during, for example, a bankruptcy. As a trustee, your task during bankruptcy proceedings is to ensure that the company's assets are sold at the highest price.  

The trustee must also ensure that the value derived from the assets sold is distributed to creditors. Most trustees are trained lawyers, but it is not a requirement that you are a lawyer in order to become a trustee.