MLchartDataset catalogue

Debtor in possession

Term · Law · MLC-T-LAW-001490

A business or individual that retains control of its assets and continues to operate its business while undergoing reorganization under Chapter 11 of the United States Bankruptcy Code. The DIP acts as a fiduciary for its creditors, with its actions subject to court oversight. This status is distinct from a trustee, who takes over management of the debtor's estate.

Table 1. Record
IdentifierMLC-T-LAW-001490
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001490",
  "term": "Debtor in possession",
  "field": "Law",
  "definition": "A business or individual that retains control of its assets and continues to operate its business while undergoing reorganization under Chapter 11 of the United States Bankruptcy Code. The DIP acts as a fiduciary for its creditors, with its actions subject to court oversight. This status is distinct from a trustee, who takes over management of the debtor's estate.",
  "url": "https://mlchart.com/terminology/law/debtor-in-possession/"
}

Record 1,354 of 5,439 in Law terminology (MLC-0107). Request the full dataset.