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 who are lessors under real property leases have the right under section 365 of the Bankruptcy Code to reject a tenant's lease.
Summary: Bankruptcy trustees and chapter 11 debtors in possession who are lessors under real property leases have the right under section 365 of the Bankruptcy ...
Debtors in possession sell real estate, businesses, equipment, intellectual property and other assets often at fire-sale prices but with the code's superior protections.