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Tag Archives: debtor in possession

What Are Your Responsibilities as a Chapter 11 Debtor in Possession?

A Chapter 11 debtor in possession (DIP) holds a unique and multifaceted role. As a DIP, you are not only seeking financial reorganization but also acting as a fiduciary, entrusted with managing the business and assets for the benefit of all stakeholders. This dual nature encompasses a wide range of duties and carries a considerable […]

Planning Exit Strategies Before Filing a Chapter 11

Entering into agreements with key creditor groups before filing a Chapter 11 bankruptcy can be of great advantage for a business debtor, especially a smaller company that is more likely to be impacted by the costs of a bankruptcy. This prearranged approach is often memorialized in a restructuring support agreement (RSA), a contract that outlines […]

Powers and Duties of a Chapter 11 Debtor in Possession

A Chapter 11 bankruptcy allows a business facing insolvency to reorganize its debts so that it can have a chance to return to financial health. In most cases, the business continues to be operated by its owner, but under the supervision of the bankruptcy trustee. The owner becomes a debtor in possession. The role of […]

How DIP Financing in Chapter 11 Can Help Turn a Company Around

The goal of Chapter 11 bankruptcy is to help struggling businesses reorganize and become financially viable again. But every company — even one in Chapter 11 — needs adequate cash flow to keep operating. Debtor-in-possession (DIP) financing is a feature that can help a company get access to the cash it needs to remain operational […]

Obtaining Credit in a Chapter 11 Bankruptcy

If your company is unable to turn a profit and has run out of lenders willing to finance it further, Chapter 11 bankruptcy could be the best way to allow the company to stay in business. A Chapter 11 also can open up other sources of credit for you. This might seem counterintuitive, because your […]

Obtaining Debtor-in-Possession (DIP) Financing During Chapter 11

Financially distressed businesses often lack enough cash to continue operating and can no longer borrow to meet their ongoing expenses. Creditors may cut them off from further advances, causing the business to default on its obligations. This has happened with great frequency during the COVID-19 pandemic, as many companies have seen drastic and devastating impacts […]

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