DEBTOR-IN-POSSESSION

debtor in possession

glossary /

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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debtor in possession

glossary / ,

debtor in possession 〈美〉(破产法)拥有控制权的债务人指《破产法典》〔Bankruptcy Code〕第11章或第12章〔Chapter 11 or Chapter 12〕规定的情况，即在破产程序中，破产债务人对其财产仍有权占有和进行经营活动，以完善重整和恢复其财务状况。除某些例外情形，拥有控制权的债务人具有第11章中破产财产管理人〔trustee〕的权利、权力和义务。通常简称为DIP。

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