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Federal law — U.S. Code and appendices · legal_authorities
Unless the court, on request of a party in interest and after notice and a hearing, orders otherwise, the trustee may operate the debtor’s business.
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 1108
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Source file: Laws/federal/codes/united-states-code/title-11/section-1108-authorization-to-operate-business--4f708f7818.md
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Source location: Title 11, Chapter 11, § 1108; chapter-011-reorganization.md
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Federal law — U.S. Code and appendices · legal_authorities
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
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 101
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Subject to any limitations on a trustee serving in a case under this chapter, and to such limitations or conditions as the court prescribes, a debtor in possession shall have all the rights, other than the right to compensation under [section 330 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section330&num=0&edition=prelim), and powers, and shall perform all the functions and duties, except the duties specified in sections 1106(a)(2), (3), and (4) of this title, of a trustee serving in a case under this chapter. **(b)** Notwithstanding [section 327(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section327/a&num=0&edition=prelim), a person is not disqualified for employment under [section 327 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section327&num=0&edition=prelim) by a debtor in possession solely because of such person’s employment by or representation of the debtor before the commencement of the case.
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 1107
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Federal law — U.S. Code and appendices · legal_authorities
Page 246 TITLE 11—BANKRUPTCY § 1107 § 1107. Rights, powers, and duties of debtor in possession (a) Subject to any limitations on a trustee serving in a case under this chapter, and to such limitations or conditions as the court pre- scribes, 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 the functions and duties, ex- cept the duties specified in sections 1106(a)(2), (3), and (4) of this title, of a trustee serving in a case under this chapter. (b) Notwithstanding section 327(a) of this title, a person is not disqualified for employment under section 327 of this title by a debtor in pos- session solely because of such person’s employ- ment by or representation of the debtor before the commencement of the case. (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2628; Pub. L. 98–353, title III, § 503, July 10, 1984, 98 Stat. 384.) HISTORICAL AND REVISION NOTES LEGISLATIVE STATEMENTS The House amendment adopts section 1107(b) of the Senate amendment which clarifies a point not covered by the House bill. SENATE REPORT NO. 95–989 This section places a debtor in possession in the shoes of a trustee in every way. The debtor is given the rights and powers of a chapter 11 trustee. He is required to perform the functions and duties of a chapter 11 trustee (except the investigative duties). He is also subject to any limitations on a chapter 11 trustee, and to such other limitations and conditions as the court prescribes cf. Wolf v. Weinstein, 372 U.S. 633, 649–650 (1963). Editorial Notes AMENDMENTS 1984—Subsec. (a). Pub. L. 98–353 substituted ‘‘on a trustee serving in a case’’ for ‘‘on a trustee’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF
Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 1108
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