2021 US Code
Title 11 - Bankruptcy
Chapter 7 - Liquidation
Subchapter II - Collection, Liquidation, and Distribution of the Estate
Sec. 721 - Authorization to operate business
11 U.S.C. § 721 (2021) |
§721. Authorization to operate business |
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. |
United States Code, 2018 Edition, Supplement 3, Title 11 - BANKRUPTCY |
Bills and Statutes |
United States Code |
Y 1.2/5: |
Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER II - COLLECTION, LIQUIDATION, AND DISTRIBUTION OF THE ESTATE Sec. 721 - Authorization to operate business |
section 721 |
2021 |
January 3, 2022 |
Yes |
standard |
92 Stat. 2606 |
Public Law 95-598 |