Debtor in Possession

A debtor in possession is an entity that is still in possession of the firm’s assets, as is usually the case until a trustee is appointed. „The debtor in possession has certain fiduciary duties akin to those of a trustee that require it to operate its business in a manner that is fair, equitable and in the best interest of the creditors.“45

45 (Branch & Hugh, 1992, p. 5)