Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. Through bankruptcy, the debtor may seek relief from some or all debts.
Exploring how consignment functions within the real estate finance domain, particularly focusing on the FSLIC's role in replacing management in insolvent savings and loan associations to ensure continued operations.
A 'Debtor in Possession' (DIP) is a status granted to a debtor who retains control of property and continues to operate its business while undergoing a bankruptcy proceeding, typically under Chapter 11 in the U.S. Bankruptcy Code.
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