11 U.S.C. § 1188 — Status conference

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 cause, including fraud, dishon- esty, incompetence, or gross mismanagement of the affairs of the debtor, either before or after the date of commencement of the case, or for failure to perform the obligations of the debtor under a plan confirmed under this subchapter. (b) REINSTATEMENT.—On request of a party in interest, and after notice and a hearing, the court may reinstate the debtor in possession. (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. § 1186. Property of the estate (a) INCLUSIONS.—If a plan is confirmed under section 1191(b) of this title, property of the es- tate includes, in addition to the property speci- fied in section 541 of this title— (1) all property of the kind specified in that section that the debtor acquires after the date of commencement of the case but before the case is closed, dismissed, or converted to a case under chapter 7, 12, or 13 of this title, whichever occurs first; and (2) earnings from services performed by the debtor after the date of commencement of the case but before the case is closed, dismissed, or converted to a case under chapter 7, 12, or 13 of this title, whichever occurs first. (b) DEBTOR REMAINING IN POSSESSION.—Except as provided in section 1185 of this title, a plan confirmed under this subchapter, or an order confirming a plan under this subchapter, the debtor shall remain in possession of all property of the estate. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1081.) 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. § 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. (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 para- graphs (2), (3), (4), (5), (6), and (7) of section 1116 of this title. (c) SEPARATE DISCLOSURE STATEMENT EXEMP- TION.—If the court orders under section 1181(b) of this title that section 1125 of this title applies, section 1125(f) of this title shall apply. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1081.) 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. § 1188. Status conference (a) IN GENERAL.—Except as provided in sub- section (b), not later than 60 days after the entry of the order for relief under this chapter, the court shall hold a status conference to fur- ther the expeditious and economical resolution of a case under this subchapter. (b) EXCEPTION.—The court may extend the pe- riod of time for holding a status conference under subsection (a) if the need for an extension is attributable to circumstances for which the debtor should not justly be held accountable. (c) REPORT.—Not later than 14 days before the date of the status conference under subsection (a), the debtor shall file with the court and serve on the trustee and all parties in interest a re- port that details the efforts the debtor has un- dertaken and will undertake to attain a consen- sual plan of reorganization. Page 291 TITLE 11—BANKRUPTCY § 1191 1 So in original. The words ‘‘of this title’’ probably should fol- low ‘‘1129(a)’’. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1081.) 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. § 1189. Filing of the plan (a) WHO MAY FILE A PLAN.—Only the debtor may file a plan under this subchapter. (b) DEADLINE.—The debtor shall file a plan not later than 90 days after the order for relief under this chapter, except that the court may extend the period if the need for the extension is attrib- utable to circumstances for which the debtor should not justly be held accountable. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1081.) 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. § 1190. Contents of plan A plan filed under this subchapter— (1) shall include— (A) a brief history of the business oper- ations of the debtor; (B) a liquidation analysis; and (C) projections with respect to the ability of the debtor to make payments under the proposed plan of reorganization; (2) shall provide for the submission of all or such portion of the future earnings or other future income of the debtor to the supervision and control of the trustee as is necessary for the execution of the plan; and (3) notwithstanding section 1123(b)(5) of this title, may modify the rights of the holder of a claim secured only by a security interest in real property that is the principal residence of the debtor if the new value received in connec- tion with the granting of the security interest was— (A) not used primarily to acquire the real property; and (B) used primarily in connection with the small business of the debtor. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1082.) 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. § 1191. Confirmation of plan (a) TERMS.—The court shall confirm a plan under this subchapter only if all of the require- ments of section 1129(a), other than paragraph (15) of that section, of this title 1 are met. (b) EXCEPTION.—Notwithstanding section 510(a) of this title, if all of the applicable re- quirements of section 1129(a) of this title, other than paragraphs (8), (10), and (15) of that section, are met with respect to a plan, the court, on re- quest of the debtor, shall confirm the plan not- withstanding the requirements of such para- graphs if the plan does not discriminate un- fairly, and is fair and equitable, with respect to each class of claims or interests that is impaired under, and has not accepted, the plan. (c) RULE OF CONSTRUCTION.—For purposes of this section, the condition that a plan be fair and equitable with respect to each class of claims or interests includes the following re- quirements: (1) With respect to a class of secured claims, the plan meets the requirements of section 1129(b)(2)(A) of this title. (2) As of the effective date of the plan— (A) the plan provides that all of the pro- jected disposable income of the debtor to be received in the 3-year period, or such longer period not to exceed 5 years as the court may fix, beginning on the date that the first payment is due under the plan will be ap- plied to make payments under the plan; or (B) the value of the property to be distrib- uted under the plan in the 3-year period, or such longer period not to exceed 5 years as the court may fix, beginning on the date on which the first distribution is due under the plan is not less than the projected disposable income of the debtor. (3)(A) The debtor will be able to make all payments under the plan; or (B)(i) there is a reasonable likelihood that the debtor will be able to make all payments under the plan; and (ii) the plan provides appropriate remedies, which may include the liquidation of non- exempt assets, to protect the holders of claims or interests in the event that the payments are not made. (d) DISPOSABLE INCOME.—For purposes of this section, the term ‘‘disposable income’’ means the income that is received by the debtor and that is not reasonably necessary to be ex- pended— (1) for— (A) the maintenance or support of the debtor or a dependent of the debtor; or (B) a domestic support obligation that first becomes payable after the date of the filing of the petition; or (2) for the payment of expenditures nec- essary for the continuation, preservation, or operation of the business of the debtor. (e) SPECIAL RULE.—Notwithstanding section 1129(a)(9)(A) of this title, a plan that provides for the payment through the plan of a claim of a kind specified in paragraph (2) or (3) of section 507(a) of this title may be confirmed under sub- section (b) of this section. (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1082; amended Pub. L. 116–260, div. N, title III, § 320(c), (f)(2)(A)(iii), Dec. 27, 2020, 134 Stat. 2016, 2017; Pub. L. 117–151, § 2(f), June 21, 2022, 136 Stat. 1299.)