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debtor in possession |
Also found in: Financial, Wikipedia | 0.01 sec. |
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debtor in possession n. in bankruptcy proceedings when a debtor has filed for the right to submit a plan for reorganization or refinancing under Chapter 11, and the debtor is allowed to continue to manage his/her/its business without an appointed trustee, that debtor is called a "debtor in possession." (See: bankruptcy) |
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Healthco), as debtor-in-posession and later by the Chapter 7 Trustee for Healthco, subject to the pledge, since the 1993 bankruptcy filing by Healthco, the dental equipment supplier that had previously owned the shares. |
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Debtor-in-posession
