debtor in possession

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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)

References in periodicals archive ?
Bankruptcy trustees and Chapter 11 debtors in possession of their indebted property would have to pay tax obligations in the course of the debtor's business.
Brian Swett represents senior secured lenders and other secured creditors, as well as public and private companies, including debtors in possession, sellers, purchasers, shareholders and investors, in all aspects of in-court and out-of-court workout, restructuring and reorganization matters.
The purpose of this meeting is so that the Equity Committee's professionals can respond to questions equity holders may have with respect to the Plan of Reorganization proposed by Mirant Corporation and its affiliated entities, which are debtors and debtors in possession in Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division (lead case number 03-46590).