Us Code § 1107 - Rights, powers, and duties of debtor in possession
Full text of Us Code United States Code § 1107 — Rights, powers, and duties of debtor in possession, with citation guidance and answers to common questions.
§ 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, §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).
Editorial Notes
Amendments
1984—Subsec. (a). Pub. L. 98–353 substituted "on a trustee serving in a case" for "on a trustee".
Statutory Notes and Related Subsidiaries
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.
About This Section
11 U.S.C. § 1107 is part of Title 11 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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