11 U.S.C. § 1107 — Rights, powers, and duties of debtor in possession
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 124 words · no verdicts yet
A debtor in possession generally has the rights and powers of a trustee in a case under this chapter and must perform the trustee’s functions and duties, subject to stated exceptions and court limits. A person is not disqualified from being employed by the debtor in possession solely because the person previously worked for or represented the debtor.
(a) Subject to the limits that apply to a trustee serving in a case under this chapter, and to any limits or conditions the court sets, a debtor* in possession has all of that trustee’s rights and powers except the right to compensation under section 330 of this title. The debtor in possession must also perform all of the trustee’s functions and duties except the duties in section 1106(a)(2), (3), and (4) of this title. This section does not define “debtor in possession.”
(b) Despite section 327(a) of this title, a person is not disqualified from employment under section 327 solely because the person was employed by or represented the debtor before the case began.
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.
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.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2628; Pub. L. 98–353, title III, § 503, July 10, 1984, 98 Stat. 384.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2628
- 1984Amended · Pub. L. 98-353 · 98 Stat. 384
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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