"debtors possession" is stamped on my pay check
2006-09-07 15:02:25 · 3 answers · asked by Nick M 1 in Business & Finance ➔ Corporations
Check out the following link...
2006-09-07 15:08:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
After filing for Chapter 11 bankruptcy, new bank accounts are opened that name the debtor in possession on the account. A debtor in possession can be terminated and the court will appoint a trustee in the event that assets are improperly managed or the debtor in possession is not following court orders. The United States Trustee's office maintains guidelines that specify the duties of debtor in possession.
2014-02-17 02:30:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Perhaps you mean, "debtor in possession". That is a bankrupcty term...
http://www.creditmanagementworld.com/bankruptcy/bankruptcy01.html
2006-09-08 11:11:40 · answer #3 · answered by nickdc1960 7 · 0⤊ 0⤋