Terms Used In Kansas Statutes > Chapter 58 > Article 29 - Bankruptcy

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Grantor: The person who establishes a trust and places property into it.
• Trustee: A person or institution holding and administering property in trust.