- debtor in possession
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debtor in possession: a debtor who remains in possession of an estate during chapter 11 or 12 bankruptcy and has the same duties as a trustee in bankruptcy
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- debtor in possession
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A business that has filed for Chapter 11 bankruptcy and is allowed to continue operating during the bankruptcy process.Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- debtor in possession
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n.in bankruptcy proceedings when a debtor has filed for the right to submit a plan for reorganization or refinancing under Chapter 11, and the debtor is allowed to continue to manage his/her/its business without an appointed trustee, that debtor is called a "debtor in possession."See also: bankruptcy
Law dictionary. EdwART. 2013.
Look at other dictionaries:
debtor in possession — (debtor in possession (DIP)) A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee. also see trustee,… … Glossary of Bankruptcy
debtor-in-possession — (debtor in possession (DIP)) A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee. also see trustee,… … Glossary of Bankruptcy
debtor-in-possession — (DIP) USA The debtor in a Chapter 11 case who remains in possession and control of its assets and business operations, unless replaced by a Chapter 11 trustee. Practical Law Dictionary. Glossary of UK, US and international legal terms.… … Law dictionary
Debtor in possession — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court … Wikipedia
debtor in possession — In some bankruptcy proceedings, the debtor, rather than a trustee, may continue to operate the business. The debtor in possession is the same person or company that controlled the business prior to the bankruptcy, however, the debtor in… … Financial and business terms
debtor-in-possession — In some bankruptcy proceedings, the debtor, rather than a trustee, may continue to operate the business. The debtor in possession is the same person or company that controlled the business prior to the bankruptcy, however, the debtor in… … Financial and business terms
debtor in possession — The term applied to a debtor who continues in possession while proceedings are had in the bankruptcy court to perfect a reorganization or arrangement whereby his financial affairs may be rehabilitated … Ballentine's law dictionary
debtor in possession — In bankruptcy proceedings, a debtor who has filed for the right to submit a plan for reorganization or refinancing under Chapter 11, and is allowed to continue to manage her or his business without an appointed trustee … Business law dictionary
debtor in possession — noun A natural person or corporation that has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. Such a business may continue to operate its business under Chapter 11… … Wiktionary
Debtor in possession — A firm that is continuing to operate under Chapter 11 bankruptcy process. The New York Times Financial Glossary … Financial and business terms