DIP
DIP
A debtor in possession occurs only in a Chapter 11 case. The debtor is presumed to remain in possession of its assets and business operation, with most of the powers and duties of a trustee.
also see trustee, (appointment in Chapter 11 ) (Bernstein's Dictionary of Bankruptcy Terminology)

The term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11, without the appointment of a case trustee. A debtor will remain a debtor in possession until the debtor's plan of reorganization is confirmed, the debtor's case is dismissed or converted to chapter 7, or a chapter 11 trustee is appointed. The appointment or election of a trustee occurs only in a small number of cases. Generally, the debtor, as "debtor in possession," operates the business and performs many of the functions that a trustee performs in cases under other chapters. (BankruptcyAction.com)

The term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11, without the appointment of a case trustee. A debtor will remain a debtor in possession until the debtor's plan of reorganization is confirmed, the debtor's case is dismissed or converted to chapter 7, or a chapter 11 trustee is appointed. The appointment or election of a trustee occurs only in a small number of cases. Generally, the debtor, as "debtor in possession," operates the business and performs many of the functions that a trustee performs in cases under other chapters. (California Bankruptcy Dictionary)

In a Chapter 11 case, the debtor usually remains in possession of its assets and assumes the duties of a trustee. The debtor in possession is a fiduciary for the creditors of the estate, and owes them the highest duty of care and loyalty. (Bankruptcy in Brief)

the debtor which remains in control of operations, as opposed to having a trustee operate the company (Glossary of Common Bankruptcy Terms)

A debtor that has filed for relief under chapter 11 of the Bankruptcy Code (SA-Bankruptcy.com)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Synonyms:

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  • DIP — may refer to: Contents 1 As a three letter acronym 1.1 In science and technology 1.1.1 In computer scie …   Wikipedia

  • Dip — Dip, n. 1. The action of dipping or plunging for a moment into a liquid. The dip of oars in unison. Glover. [1913 Webster] 2. Inclination downward; direction below a horizontal line; slope; pitch. [1913 Webster] 3. a hollow or depression in a… …   The Collaborative International Dictionary of English

  • dip — vb 1 Dip, immerse, submerge, duck, souse, dunk are comparable when meaning to plunge a person or thing into or as if into liquid. Dip implies a momentary or partial plunging into a liquid or a slight or cursory entrance into a subject {the priest …   New Dictionary of Synonyms

  • Dip — Dip, v. t. [imp. & p. p. {Dipped}or {Dipt} (?); p. pr. & vb. n. {Dipping}.] [OE. dippen, duppen, AS. dyppan; akin to Dan. dyppe, Sw. doppa, and to AS. d?pan to baptize, OS. d?pian, D. doopen, G. taufen, Sw. d[ o]pa, Goth. daupjan, Lith. dubus… …   The Collaborative International Dictionary of English

  • dip — [n1] submersion in liquid bath, dive, douche, drenching, ducking, immersion, plunge, soak, soaking, swim; concept 256 dip [n2] something for dunking concoction, dilution, infusion, mixture, preparation, solution, suffusion, suspension; concepts… …   New thesaurus

  • dip — ► VERB (dipped, dipping) 1) (dip in/into) put or lower briefly in or into. 2) sink, drop, or slope downwards. 3) (of a level or amount) temporarily become lower or smaller. 4) lower or move downwards. 5) Brit. lower the beam of (a …   English terms dictionary

  • dip — [dip] vt. dipped or occas.Now Rare dipt, dipping [ME dippen < OE dyppan, to immerse < Gmc * dup , to be deep: see DIMPLE] 1. to put into or under liquid for a moment and then quickly take out; immerse 2. to dye in this way 3. to clean… …   English World dictionary

  • Dip — Dip, v. i. 1. To immerse one s self; to become plunged in a liquid; to sink. [1913 Webster] The sun s rim dips; the stars rush out. Coleridge. [1913 Webster] 2. To perform the action of plunging some receptacle, as a dipper, ladle. etc.; into a… …   The Collaborative International Dictionary of English

  • Dip — Saltar a navegación, búsqueda Según el contexto, dip se puede referir a: Mitología un perro vampiro propio de la mitología de Cataluña. Gastronomía la salsa con la que se mojan ciertos aperitivos. Electrónica un tipo de encapsulado de circuitos… …   Wikipedia Español

  • DIP — index immerse (plunge into), subside Burton s Legal Thesaurus. William C. Burton. 2006 DIP …   Law dictionary

  • dip — s.n. Cuvânt de origine engleză, utilizat în gastronomie pentru sos rece de consistenţa unei paste în care se înmoaie diferite alimente în formă de bastonaşe (tije de legume, grisine) înainte de a fi consumate. Trimis de gal, 04.05.2005. Sursa:… …   Dicționar Român

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