A person filing for bankruptcy under Chapter 11 and left in place to operate the business during the reorganization proceeding is known as the ________.

Question

Quizplus · Accepted Answer

A debtor-in-possession is a person or entity that continues to operate a business during Chapter 11 bankruptcy while also acting as the fiduciary in charge of managing the reorganization process. This arrangement allows the debtor to maintain control and oversight of their business while still seeking protection from creditors.

A Person Filing for Bankruptcy Under Chapter 11 and Left