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Meaning of debtor in possession | Babel Free

Noun CEFR C1

Definitions

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.

US

CEFR level

C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.
See all C1 English words →

See also

Debtors debtors' prison debtorship Debts debubblizer debuccalisation

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