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11 U.S.C. § 1182 - U.S. Code - Unannotated Title 11. Bankruptcy § 1182. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

In this subchapter:

(1)Debtor.--The term “debtor”--

(A) subject to subparagraph (B), means a person engaged in commercial or business activities (including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the business of owning single asset real estate) that has aggregate noncontingent liquidated secured and unsecured debts as of the date of the filing of the petition or the date of the order for relief in an amount not more than $7,500,000 (excluding debts owed to 1 or more affiliates or insiders) not less than 50 percent of which arose from the commercial or business activities of the debtor; and

(B) does not include--

(i) any member of a group of affiliated debtors under this title that has aggregate noncontingent liquidated secured and unsecured debts in an amount greater than $7,500,000 (excluding debt owed to 1 or more affiliates or insiders);

(ii) any debtor that is a corporation subject to the reporting requirements under section 13 or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m, 78o(d)); or

(iii) any debtor that is an affiliate of a corporation described in clause (ii).

(2)Debtor in possession.--The term “debtor in possession” means the debtor, unless removed as debtor in possession under section 1185(a) of this title.

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Cite this article: FindLaw.com - 11 U.S.C. § 1182 - U.S. Code - Unannotated Title 11. Bankruptcy § 1182. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/us/title-11-bankruptcy/11-usc-sect-1182/

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