No. 80-00058-BKC-TCB
March 10, 1980
Bankruptcy Reform Act — Reorganization — Debtor-in-Possession — Reports — No Assets Case
BRITTON, Bankruptcy Judge
A debtor-in-possession in a Chapter 11 proceeding may be relieved of the duty to file bi-weekly reports under Section 1106 of the Bankruptcy Code if the debtor conducts no business and has no non-exempt assets, and uses his entire income for living expenses. See Sec. 1106 at ¶ 12,015.
[Digest of Opinion]
The debtor in this Chapter 11 proceeding applied to the court for an order relieving him from the duty of filing biweekly reports as debtor-in-possession. The debtor conducted no business and had no non-exempt assets other than possible causes of action which have never been filed as law suits. The debtor's only source of income was a monthly salary as a consultant which is less than $1,700 and which was entirely used for living expenses. Under these circumstances, the court found that the filing of bi-weekly reports as a debtor-in-possession was pointless. Accordingly, the debtor was relieved of his obligation to file the reports.