Definitions for "Debtor-in-possession"
a Chapter 11 or 12 debtor that continues to operate its business as a fiduciary to the bankruptcy estate.
A bankrupt commercial entity that retains control of its operational assets rather than relinquishing control to a court-appointed trustee. Such an entity acts as a bankruptcy trustee with all of its powers and duties.
Pertains to a Chapter 11 Bankruptcy filing where the borrower makes direct payments to the creditors instead of a court appointed trustee.