Bankruptcy Code

Bankruptcy is a legal declaration that allows some debtors to discharge their unsecured debts. The text of this statute is provided as general information to the public. It may be amended, revised, or rescinded at any time without notice. This information is not intended to be legal advice. For more information, please see our disclaimer.

11 U.S.C. § 1203. Rights and powers of debtor

Subject to such limitations as the court may prescribe, a debtor in possession shall have all the rights, other than the right to compensation under section 330 [11 USCS § 330], and powers, and shall perform all the functions and duties, except the duties specified in paragraphs (3) and (4) of section 1106(a) [11 USCS § 1106(a)], of a trustee serving in a case under chapter 11, including operating the debtor's farm or commercial fishing operation.