11 U.S. Code § 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.
Source(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
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).
1984—Subsec. (a). Pub. L. 98–353substituted “on a trustee serving in a case” for “on a trustee”.
Effective Date of 1984 Amendment
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