Notes on 11 U.S.C. § 331 : US Code - Notes

Search Notes on 11 U.S.C. § 331 : US Code - Notes

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2564.)
HISTORICAL AND REVISION NOTES
SENATE REPORT NO. 95-989
Section 331 permits trustees and professional persons to apply to
the court not more than once every 120 days for interim
compensation and reimbursement payments. The court may permit more
frequent applications if the circumstances warrant, such as in very
large cases where the legal work is extensive and merits more
frequent payments. The court is authorized to allow and order
disbursement to the applicant of compensation and reimbursement
that is otherwise allowable under section 330. The only effect of
this section is to remove any doubt that officers of the estate may
apply for, and the court may approve, compensation and
reimbursement during the case, instead of being required to wait
until the end of the case, which in some instances, may be years.
The practice of interim compensation is followed in some courts
today, but has been subject to some question. This section
explicitly authorizes it.
This section will apply to professionals such as auctioneers and
appraisers only if they are not paid on a per job basis.