Debtor in possession

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Debtor in possession
A debtor in possession, in United States bankruptcy law, is a person or corporation who has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. A corporation which continues to operate its business under Chapter 11 bankruptcy proceedings is a debtor in possession.
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Campbell R. Harvey's Hypertextual Finance DictionaryDownload this dictionary
Debtor in possession
A firm that is continuing to operate under Chapter 11 bankruptcy process.

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