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Is a “Sound Business Purpose” Always Enough?

By David W. Giattino on January 13, 2016
Posted in Bankruptcy Litigation, Business Bankruptcy Issues, Recent Developments

Chapter 11 of the Bankruptcy Code trusts a debtor in possession to operate its business.  In general, a debtor in possession “is free to use, sell[,] or lease property of the . . . estate in the operation of the debtor’s business.”1  This discretion is “at the heart” of the powers of a debtor …

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