11 U.S.C. § 1116 : US Code - Section 1116: Duties of trustee or debtor in possession in small business cases

Search 11 U.S.C. § 1116 : US Code - Section 1116: Duties of trustee or debtor in possession in small business cases

In a small business case, a trustee or the debtor in possession,
in addition to the duties provided in this title and as otherwise
required by law, shall -
(1) append to the voluntary petition or, in an involuntary
case, file not later than 7 days after the date of the order for
relief -
(A) its most recent balance sheet, statement of operations,
cash-flow statement, and Federal income tax return; or
(B) a statement made under penalty of perjury that no balance
sheet, statement of operations, or cash-flow statement has been
prepared and no Federal tax return has been filed;
(2) attend, through its senior management personnel and
counsel, meetings scheduled by the court or the United States
trustee, including initial debtor interviews, scheduling
conferences, and meetings of creditors convened under section 341
unless the court, after notice and a hearing, waives that
requirement upon a finding of extraordinary and compelling
circumstances;
(3) timely file all schedules and statements of financial
affairs, unless the court, after notice and a hearing, grants an
extension, which shall not extend such time period to a date
later than 30 days after the date of the order for relief, absent
extraordinary and compelling circumstances;
(4) file all postpetition financial and other reports required
by the Federal Rules of Bankruptcy Procedure or by local rule of
the district court;
(5) subject to section 363(c)(2), maintain insurance customary
and appropriate to the industry;
(6)(A) timely file tax returns and other required government
filings; and
(B) subject to section 363(c)(2), timely pay all taxes entitled
to administrative expense priority except those being contested
by appropriate proceedings being diligently prosecuted; and
(7) allow the United States trustee, or a designated
representative of the United States trustee, to inspect the
debtor's business premises, books, and records at reasonable
times, after reasonable prior written notice, unless notice is
waived by the debtor.