The "Devil's Dictionary"
is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary
and used in today's bankruptcy arena.
UNITED STATES TRUSTEE:
An employee of the U.S. Department of Justice charged with responsibility for oversight of various matters pertaining to bankruptcy cases generally, including the appointment of members to committees.
The presence of the U.S. Trustee in business bankruptcies is often felt most acutely on issues such as conflicts of interest pertaining to the eligibility of law firms and other professionals to serve as advisers to the debtor or a committee. The U.S. Trustee is also often to be found objecting to various aspects of fee applications filed by professionals for the debtor and committees.
The hall monitor of the bankruptcy process.
Bankruptcy Code § 307.