A company that continues to operate while going through Chapter 11 bankruptcy proceedings.
A firm that is continuing to operate under Chapter 11 bankruptcy process.
In bankruptcy, refers to the debtor in a Bankruptcy Code Chapter 11 or Chapter 12 case. In a Chapter 11 case, for example, either the debtor will remain in control of its business or assets, or a trustee will be appointed to take control of the business or assets.
A debtor that has filed for protection from creditors under Chapter 11 of the Bankruptcy Code and that is still running the company during the reorganization.
In a Chapter 11 Bankruptcy, a debtor may continue to maintain possession of the assets of the company.
A firm that continues to operate under the Chapter 11 bankruptcy process.
in a Chapter 11 case, where the debtor retains control and possession and assumes the duties, which are normally that of a case trustee. The debtor in possession is a fiduciary position for the creditors of the estate and owes them the typical fiduciary duties of care and loyalty.
This term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11 of U. S. Bankruptcy Code, without the appointment of a case trustee.
In a Chapter 11 case, the debtor usually remains in p ossession of its assets and assumes the duties of a trustee. The debtor in possession is a fiduciary for the creditors of the estate, and owes them the highest duty of care and loyalty.
debtor-in-possession financing debt retirement
A debtor in possession, in United States bankruptcy law, is a person who has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. Under certain circumstances, the debtor in possession may be able to keep the property by paying the creditor the fair market value, as opposed to the contract price. This is often the case where the property is a personal vehicle which has depreciated in value since the time of the purpose, and which the debtor needs in order to be able to find or continue employment to pay off his debts.