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of <h1>Bankruptcy Trustee Rights: Section 151 IBC 2016 Empowers Trustees to Manage and Distribute Bankrupt Estates Effectively.</h1> Section 151 of the Insolvency and Bankruptcy Code, 2016, outlines the rights of a bankruptcy trustee in administering and distributing the estate of a bankrupt individual. The trustee, acting under their official name, is empowered to hold property, make contracts, initiate or defend legal actions, engage in estate-related transactions, hire assistance, execute legal documents, and perform any necessary actions related to their duties. These provisions ensure the trustee can effectively manage and distribute the bankrupt's estate in accordance with the law.
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