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debtor in possession. In DICTIOUS you will not only get to know all the dictionary meanings for the word
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English
Noun
debtor in possession (plural debtors in possession)
- (finance, law, US) A natural person or corporation that has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. Such a business may continue to operate its business under Chapter 11 bankruptcy protection.
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