Removal of debtor in possession

11 U.S.C. § 1185
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) In General.—On request of a party in interest, and after notice and a hearing, the court shall order that the debtor shall not be a debtor in possession for cause, including fraud, dishonesty, incompetence, or gross mismanagement of the affairs of the debtor, either before or after the date of commencement of the case, or for failure to perform the obligations of the debtor under a plan confirmed under this subchapter. (b) Reinstatement.—On request of a party in interest, and after notice and a hearing, the court may reinstate the debtor in possession.

Starting a business? Corpus forms LLCs in all 50 states and DC.