debtor in possession
(finance, legal, 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.
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(finance, legal, 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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(US, finance, law) A type of bankruptcy code that governs the process of liquidation under the bankruptcy laws of the United States, conferring protection from creditors.
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(legal) The decision upon the question of whether the debtor is a bankrupt.
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