Role of Trustee in Bankruptcy

The video tutorial explains the role of a debtor in possession in a bankruptcy case. It covers the procedural tasks such as collecting assets, notifying creditors, and managing claims. The debtor in possession can accept or reject ongoing contracts, recover preferential and fraudulent payments, and manage liens to ensure fair treatment of creditors and facilitate the bankruptcy process.

What actions can be taken regarding preferential and fraudulent payments made by the debtor?

What is the purpose of removing liens attached to the debtor's assets during bankruptcy?