11 U.S.C. § 1101 — Definitions for this chapter
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 93 words · no verdicts yet
This section defines “debtor in possession” and “substantial consummation” for the bankruptcy chapter.
In this chapter, (1) “debtor* in possession” means the debtor, unless a person qualified under section 322 is serving as trustee in the case. (2) “Substantial consummation” means: (A) transferring all, or almost all, property that the plan proposes to transfer*; (B) the debtor or the debtor’s successor taking over the business or management of all, or almost all, property covered by the plan; and (C) beginning distributions under the plan.
In this chapter—
“debtor* in possession” means debtor except when a person that has qualified under section 322 of this title is serving as trustee in the case;
“substantial consummation” means—
transfer* of all or substantially all of the property proposed by the plan to be transferred;
assumption by the debtor or by the successor to the debtor under the plan of the business or of the management of all or substantially all of the property dealt with by the plan; and
commencement of distribution under the plan.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2626.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2626
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.
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