Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 11– REORGANIZATION

Sub Chapter – Officers and Administration

Sec. 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 
prescribes, 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, 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, a person is not 
disqualified for employment under section 327 of this title by a debtor 
in possession solely because of such person's employment 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, 
Sec. 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).


                               Amendments

    1984--Subsec. (a). Pub. L. 98-353 substituted ``on a trustee serving 
in a case'' for ``on a trustee''.


                    Effective Date of 1984 Amendment

    Amendment by Pub. L. 98-353 effective with respect to cases filed 90 
days after July 10, 1984, see section 552(a) of Pub. L. 98-353, set out 
as a note under section 101 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 106, 328, 1161 of this 
title.

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For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources

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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software