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. 2015.

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 — 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 …   Law dictionary

  • 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 — 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

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