debtor in possession

debtor-in-possession. Bankruptcy. A Chapter 11 or 12 debtor that continues to operate its business as a fiduciary to the bankruptcy estate. • With certain exceptions, the debtor-in-possession has all the rights, powers, and duties of a Chapter 11 trustee. — Abbr. DIP. [Cases: Bankruptcy 3622, 3672. C.J.S. Bankruptcy §§ 374, 417.]

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词条贡献者

资深译员Calvin，毕业于亚洲一流的高级翻译学院，擅长翻译各类与复杂技术交易相关的法律文件。