When an individual is declared bankrupt, the Master of the High Court appoints a trustee to take charge of their assets. If a company, close corporation, or other legal entity is being dissolved, the person appointed by the Master is referred to as a liquidator.
A curator is someone who is appointed to manage the assets of an institution, such as an art gallery or museum.
Additionally, the title of curator is given to a person who is appointed as the guardian of an individual who lacks the mental capacity to manage their own financial affairs.
It is important to note that while the terms trustee, liquidator, and curator are sometimes used interchangeably, they each have specific meanings and roles.
