insolvency administrator
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insolvency administrator
A person appointed by a court who, in the event of insolvency, manages, secures, and realizes the assets of a company or private individual in order to satisfy creditors' claims as well as possible.
Der Insolvenzverwalter prüft, ob Teile des zahlungsunfähigen Unternehmens noch gerettet werden können.
The insolvency administrator is checking whether parts of the insolvent company can still be saved.
The word is made up of three parts: 'Insolvenz' (insolvency), the verb 'verwalten' (to manage), and the ending '-er' for a person. So it is literally a person who manages an insolvency.
Ein guter Verwalter kümmert sich um die Finanzen des Hauses.
A good administrator takes care of the building's finances.
An insolvency administrator is 'bestellt' (appointed) or 'eingesetzt' (assigned) by the court. Their task is then to 'sichern' (secure) the assets, 'prüfen' (examine) the situation, and 'entscheiden' (decide) on the company's future.
Für die insolvente Firma wurde ein erfahrener Insolvenzverwalter bestellt.
An experienced insolvency administrator was appointed for the insolvent company.
This word belongs to the technical language of law and business. You mainly hear or read it in the news, in newspaper articles, or in business contexts.
Der Bericht des Insolvenzverwalters wird nächste Woche erwartet.
The insolvency administrator's report is expected next week.
trustee
Both terms can refer to a person appointed by the court in insolvency proceedings. Insolvenzverwalter is the general term for the person who secures, manages, and realizes the assets. Treuhänder is the appropriate term only in certain insolvency proceedings and emphasizes managing and distributing the assets to the creditors.
Der Insolvenzverwalter sicherte das Vermögen des Unternehmens und verwertete es für die Gläubiger.
The insolvency administrator secured the company's assets and realized them for the creditors.
Der Treuhänder verwaltete das Vermögen des Schuldners und verteilte es an die Gläubiger.
The trustee managed the debtor's assets and distributed them to the creditors.
