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11 U.S.C. § 1187 — Duties and reporting requirements of debtors

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1187 — Duties and reporting requirements of debtors

**(a) Filing Requirements.—** Upon electing to be a debtor under this subchapter, the debtor shall file the documents required by subparagraphs (A) and (B) of [section 1116(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1116/1&num=0&edition=prelim). **(b) Other Applicable Provisions.—** A debtor, in addition to the duties provided in this title and as otherwise required by law, shall comply with the requirements of section 308 and paragraphs (2), (3), (4), (5), (6), and (7) of [section 1116 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1116&num=0&edition=prelim). **(c) Separate Disclosure Statement Exemption.—** If the court orders under [section 1181(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1181/b&num=0&edition=prelim) that [section 1125 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1125&num=0&edition=prelim) applies, [section 1125(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1125/f&num=0&edition=prelim) shall apply.

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Source file: Laws/federal/codes/united-states-code/title-11/section-1187-duties-and-reporting-requirements-of-debtors--6e2cabdaf1.md
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Source location: Title 11, Chapter 11, § 1187; chapter-011-reorganization.md

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1125 — Postpetition disclosure and solicitation

**(a)** In this section— (1) “adequate information” means information of a kind, and in sufficient detail, as far as is reasonably practicable in light of the nature and history of the debtor and the condition of the debtor’s books and records, including a discussion of the potential material Federal tax consequences of the plan to the debtor, any successor to the debtor, and a hypothetical investor typical of the holders of claims or interests in the case, that would enable such a hypothetical investor of the relevant class to make an informed judgment about the plan, but adequate information need not include such information about any other possible or proposed plan and in determining whether a disclosure statement provides adequate information, the court shall consider the complexity of the case, the benefit of additional information to creditors and other parties in interest, and the cost of providing additional information; and (2) “investor typical of holders of claims or interests of the relevant class” means investor having— (A) a claim or interest of the relevant class; (B) such a relationship with the debtor as the holders of other claims or interests of such class generally have; and (C) such ability to obtain such information from sources other than the disclosure required by this section as holders of claims or interests in such class generally have. **(b)** An acceptance or rejection of a plan may not be solicited after the commencement of the case under this title from a holder of a claim or interest with respect to such claim or interest, unless, at the time of or before such solicitation, there is transmitted to such holder the plan or a summary of the plan, and a written disclosure statement approved, after notice and a hearing, by the cour

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1116 — Duties of trustee or debtor in possession in small business cases

In a small business case, a trustee or the debtor in possession, in addition to the duties provided in this title and as otherwise required by law, shall— (1) append to the voluntary petition or, in an involuntary case, file not later than 7 days after the date of the order for relief— (A) its most recent balance sheet, statement of operations, cash-flow statement, and Federal income tax return; or (B) a statement made under penalty of perjury that no balance sheet, statement of operations, or cash-flow statement has been prepared and no Federal tax return has been filed; (2) attend, through its senior management personnel and counsel, meetings scheduled by the court or the United States trustee, including initial debtor interviews, scheduling conferences, and meetings of creditors convened under section 341 unless the court, after notice and a hearing, waives that requirement upon a finding of extraordinary and compelling circumstances; (3) timely file all schedules and statements of financial affairs, unless the court, after notice and a hearing, grants an extension, which shall not extend such time period to a date later than 30 days after the date of the order for relief, absent extraordinary and compelling circumstances; (4) file all postpetition financial and other reports required by the Federal Rules of Bankruptcy Procedure or by local rule of the district court; (5) subject to section 363(c)(2), maintain insurance customary and appropriate to the industry; (6) (A) timely file tax returns and other required government filings; and (B) subject to section 363(c)(2), timely pay all taxes entitled to administrative expense priority except those being contested by appropriate proceedings being diligently prosecuted; and (7) allow the United States

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 101 — Definitions

In this title the following definitions shall apply: (1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized. (2) The term “affiliate” means— (A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or (D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement. (3) The term “assisted person” means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.11 See Adjustment of Dollar Amounts not

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1187 — Duties and reporting requirements of

Page 290 TITLE 11—BANKRUPTCY § 1184 ‘‘1106(a) of this title’’, inserted ‘‘and’’ at end, and added subpar. (B). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2022 AMENDMENT Amendment by Pub. L. 117–151 applicable with re- spect to any case that is commenced under this title on or after Mar. 27, 2020, and with respect to a case that was commenced on or after Mar. 27, 2020, and before June 21, 2022, that is pending on June 21, 2022, see sec- tion 2(h)(2) of Pub. L. 117–151, set out as an Effective Date of 2022 Amendment; Retroactive Application note under section 101 of this title. EFFECTIVE DATE Section effective 180 days after Aug. 23, 2019, see sec- tion 5 of Pub. L. 116–54, set out as an Effective Date of 2019 Amendment note under section 101 of this title. § 1184. Rights and powers of a debtor in posses- sion Subject to such limitations or conditions as the court may prescribe, a debtor in possession shall have all the rights, other than the right to compensation under section 330 of this title, and powers, and shall perform all functions and du- ties, except the duties specified in paragraphs (2), (3), and (4) of section 1106(a) of this title, of a trustee serving in a case under this chapter, including operating the business of the debtor. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1080.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective 180 days after Aug. 23, 2019, see sec- tion 5 of Pub. L. 116–54, set out as an Effective Date of 2019 Amendment note under section 101 of this title. § 1185. Removal of debtor in possession (a) IN GENERAL.—On request of a party in in- terest, and after notice and a hearing, the court shall order that the debtor shall not be a debtor in possession for caus

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