Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 7–LIQUIDATION

Sub Chapter II – Collection, Liquidation and Distribution of the Estate

Sec. 721. Authorization to operate business

   The court may authorize the trustee to operate the business of the 
debtor for a limited period, if such operation is in the best interest 
of the estate and consistent with the orderly liquidation of the estate.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2606.)


                      Historical and Revision Notes

                        senate report no. 95-989

    This section is derived from section 2a(5) of the Bankruptcy Act 
[section 11(a)(5) of former title 11]. It permits the court to authorize 
the operation of any business of the debtor for a limited period, if the 
operation is in the best interest of the estate and consistent with 
orderly liquidation of the estate. An example is the operation of a 
watch company to convert watch movements and cases into completed 
watches which will bring much higher prices than the component parts 
would have brought.

                  Section Referred to in Other Sections

    This section is referred to in sections 327, 363, 364 of this title.



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Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
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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