debtor

IPA: dˈɛtɝ

(economics) A person or firm that owes money; one in debt; one who owes a debt.
(law) One who owes another anything, or is under obligation, arising from express agreement, implication of law, or principles of natural justice, to pay money or to fulfill some other obligation; in bankruptcy or similar proceedings, the person who is the subject of the proceeding.

Examples of "debtor" in Sentences

And we have a very financially sound corporation backing us up and providing what we call debtor-in - possession financing.
ORLEANS - After 33 months in what he called debtor's prison, Richard Birchall was suddenly released from jail Wednesday under new law created by the state's highest court for people jailed on civil contempt charges.
"My hope is that it's not a liquidation," Sen. Chris Dodd, chairman of the Banking Committee, said this morning on the "Early Show" on CBS, "but what they call a debtor-in-possession, sort of Chapter 11 filing, which would allow for the reorganization of these companies."
"My hope is that it's not a liquidation," Sen. Chris Dodd, chairman of the Banking Committee, said Friday morning on the "Early Show" on CBS, "but what they call a debtor-in-possession, sort of Chapter 11 filing, which would allow for the reorganization of these companies."