2012 US Code
Title 11 - Bankruptcy
Chapter 7 - LIQUIDATION (§§ 701 - 784)
Subchapter II - COLLECTION, LIQUIDATION, AND DISTRIBUTION OF THE ESTATE (§§ 721 - 728)
Section 721 - Authorization to operate business
|Publication Title||United States Code, 2012 Edition, Title 11 - BANKRUPTCY|
|Category||Bills and Statutes|
|Collection||United States Code|
|SuDoc Class Number||Y 1.2/5:|
|Contained Within||Title 11 - BANKRUPTCY |
CHAPTER 7 - LIQUIDATION
SUBCHAPTER II - COLLECTION, LIQUIDATION, AND DISTRIBUTION OF THE ESTATE
Sec. 721 - Authorization to operate business
|Laws in Effect as of Date||January 15, 2013|
|Source Credit||Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2606.|
|Statutes at Large Reference||92 Stat. 2606|
|Public Law Reference||Public Law 95-598|
The court may authorize the trustee to operate the business of the debtor for a limited period, if such operation is in the best interest of the estate and consistent with the orderly liquidation of the estate.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2606.)Historical and Revision Notes senate report no. 95–989
This section is derived from section 2a(5) of the Bankruptcy Act [section 11(a)(5) of former title 11]. It permits the court to authorize the operation of any business of the debtor for a limited period, if the operation is in the best interest of the estate and consistent with orderly liquidation of the estate. An example is the operation of a watch company to convert watch movements and cases into completed watches which will bring much higher prices than the component parts would have brought.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.