11 U.S.C. § 1116 Duties of Trustee Or Debtor In Possession In Small Business Cases

LibraryUnited States Statutes
Edition2023
CurrencyCurrent through P.L. 118-22 with Court Rules updates (published on www.congress.gov on 12/01/2023)
Year2023
Citation11 U.S.C. § 1116

In a small business case, a trustee or the debtor in possession, in addition to the duties provided in this title and as otherwise required by law, shall-

(1) append to the voluntary petition or, in an involuntary case, file not later than 7 days after the date of the order for relief-

(A) its most recent balance sheet, statement of operations, cash-flow statement, and Federal income tax return; or

(B) a statement made under penalty of perjury that no balance sheet, statement of operations, or cash-flow statement has been prepared and no Federal tax return has been filed;

(2) attend, through its senior management personnel and counsel, meetings scheduled by the court or the United States trustee, including initial debtor interviews, scheduling conferences, and meetings of creditors convened under section 341 unless the court, after notice and a hearing, waives that requirement upon a finding of extraordinary and compelling circumstances;

(3) timely file all schedules and statements of financial affairs, unless the court, after notice and a hearing, grants an extension, which shall not extend such time period to a date later than 30 days after the date of the order for relief, absent extraordinary and compelling circumstances;

(4) file all postpetition financial and other reports required by the Federal Rules of Bankruptcy Procedure or by local rule of the district court;

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