11 U.S.C. § 1185 — Removal of debtor in possession
submitted 7 years ago by Pub. L. 116-54 to r/title-11-BANKRUPTCY · 98 words · no verdicts yet
On request by a party in interest, the court must remove a debtor’s debtor-in-possession status after notice and a hearing when there is cause, including listed misconduct or failure to perform a confirmed plan. On request and after notice and a hearing, the court may restore that status.
(a) In General. On request by a party in interest, and after notice and a hearing, the court must order that the debtor* no longer be a debtor in possession* for cause. Cause includes fraud, dishonesty, incompetence, or gross mismanagement of the debtor’s affairs before or after the case began, and failure to perform the debtor’s obligations under a plan confirmed under this subchapter.
(b) Reinstatement. On request by a party in interest, and after notice and a hearing, the court may restore the debtor as debtor in possession.
On request of a party in interest, and after notice and a hearing, the court shall order that the debtor* shall not be a debtor in possession* for cause, including fraud, dishonesty, 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.
On request of a party in interest, and after notice and a hearing, the court may reinstate the debtor in possession.
Source credit: (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1080.)
- 2019Enacted · Pub. L. 116-54 · 133 Stat. 1080
A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-54 on 2019-08-23.
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