debtor in possession

Legal Definition of debtor in possession

: a debtor who remains in possession of an estate during chapter 11 or 12 bankruptcy and has the same duties as a trustee in bankruptcy

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“Debtor in possession.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/debtor%20in%20possession. Accessed 21 Oct. 2020.

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