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 ?
He regularly represents trade creditors, creditors' committees, secured lenders and other secured creditors, landlords, preference and fraudulent transfer defendants, trustees, liquidating trustees, bondholders, Chapter 11 debtors-in-possession and many others.
The debtors will continue to operate their businesses as "debtors-in-possession" under the jurisdiction of the bankruptcy court and in accordance with the applicable provisions of the U.S.
The purchase price for substantially all of the global business of Westinghouse Electric Company LLC and its affiliated debtors and debtors-in-possession excludes cash, but includes the assumption of certain pension, environmental and other operating obligations.
The company is operating its US operations as debtors-in-possession under the protection of the US bankruptcy laws, while the company's operations in the U.K., Greece, China, Brazil, India, Russia, the United Arab Emirates, and other jurisdictions outside the US are continuing normal business operations.
Like most debtors-in-possession, VP Debtors was required to secure workers' compensation insurance after LTV and VP Debtors filed for bankruptcy.
He has extensive experience in representing secured and unsecured creditors, debtors and debtors-in-possession and chapter 7 and 11 trustees in complex bankruptcy cases.