Debtor-in-possession Definition

noun
(finance, law, US) 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 bankruptcy protection.
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Other Word Forms of Debtor-in-possession

Noun

Singular:
debtor-in-possession
Plural:
debtors-in-possession

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