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Advantages the Debtor in Possession Role Offers in Chapter 11

In Chapter 11 bankruptcy, a corporation, partnership, or sole proprietorship can reorganize the business, continue operations, and work to pay off debts.  The debtor stays in possession of the business and acts as the fiduciary, called a debtor in possession. Maintaining control over the business provides advantages for debtors because they have more decision-making power… Read More »