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debtor in possession

From Wiktionary, the free dictionary

English

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Noun

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debtor in possession (plural debtors in possession)

  1. (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.

See also

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