U.S. Code » Title 11 » Chapter CHAPTER 3— CASE ADMINISTRATION › Subchapter SUBCHAPTER I— COMMENCEMENT OF A CASE

11 U.S.C. § 308

Debtor reporting requirements

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(a) For purposes of this section, the term “profitability” means, with respect to a debtor, the amount of money that the debtor has earned or lost during current and recent fiscal periods.(b) A debtor in a small business case shall file periodic financial and other reports containing information including—(1) the debtor’s profitability;(2) reasonable approximations of the debtor’s projected cash receipts and cash disbursements over a reasonable period;(3) comparisons of actual cash receipts and disbursements with projections in prior reports;(4) whether the debtor is—(A) in compliance in all material respects with postpetition requirements imposed by this title and the Federal Rules of Bankruptcy Procedure; and(B) timely filing tax returns and other required government filings and paying taxes and other administrative expenses when due;(5) if the debtor is not in compliance with the requirements referred to in paragraph (4)(A) or filing tax returns and other required government filings and making the payments referred to in paragraph (4)(B), what the failures are and how, at what cost, and when the debtor intends to remedy such failures; and(6) such other matters as are in the best interests of the debtor and creditors, and in the public interest in fair and efficient procedures under chapter 11 of this title.(Added Pub. L. 109–8, title IV, § 434(a)(1), Apr. 20, 2005, 119 Stat. 111; amended Pub. L. 111–327, § 2(a)(10), Dec. 22, 2010, 124 Stat. 3558.)Editorial NotesReferences in Text

The Federal Rules of Bankruptcy Procedure, referred to in subsec. (b)(4)(A), are set out in the Appendix to this title.

Amendments

2010—Subsec. (b). Pub. L. 111–327, § 2(a)(10)(A), substituted “debtor in a small business case” for “small business debtor” in introductory provisions.

Subsec. (b)(4) to (6). Pub. L. 111–327, § 2(a)(10)(B), struck out subpar. (A) designation before “whether the debtor” in par. (4) and redesignated cls. (i) and (ii) of former subpar. (A) as subpars. (A) and (B), respectively, redesignated former subpars. (B) and (C) of par. (4) as pars. (5) and (6), respectively, and, in par. (5), substituted “paragraph (4)(A)” for “subparagraph (A)(i)” and “paragraph (4)(B)” for “subparagraph (A)(ii)”.

Statutory Notes and Related SubsidiariesEffective Date

Pub. L. 109–8, title IV, § 434(b), Apr. 20, 2005, 119 Stat. 111, provided that: “The amendments made by subsection (a) [enacting this section] shall take effect 60 days after the date on which rules are prescribed under section 2075 of title 28, United States Code, to establish forms to be used to comply with section 308 of title 11, United States Code, as added by subsection (a) [See Bankruptcy Form No. 25C, eff. Dec. 1, 2008].”

Notes of Decisions
Cited in 22 cases (2 in the last 5 years), 1985–2024 · leading case: In Re Draiman, 450 B.R. 777 (Bankr. N.D. Ill. 2011).
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In Re Draiman, 450 B.R. 777 (Bankr. N.D. Ill. 2011). · cites it 2× “In connection with its § 1112(b)(4)(F) argument, Dynegy argues that 11 U.S.C. § 308 (b) requires the Debtor to disclose whether he is timely filing tax returns and paying taxes and other administrative expenses when due and to disclose that he is not filing tax returns and other…”
Wilk Auslander LLP v. Murray (In re Murray), 565 B.R. 527 (S.D.N.Y. 2017). “) On March 18, 2015, Murray filed a motion to dismiss the Involuntary Petition under 11 U.S.C. §§ 308 (0 and 305(a), 28 U.S.C.”
Crown Heights Jewish Cmty. Council, Inc. v. Fischer (In Re Fischer), 202 B.R. 341 (E.D.N.Y 1996). · cites it 2× “As the *345 basis for his rulings, Judge Holland determined that: (1) the $275 debt owed to the individual petitioning creditors was de min-imis and therefore should not be counted for purposes of evaluating the number of debts at issue under 11 U.S.C. § 308 (h)(1); (2) the…”
Andover Covered Bridge, LLC v. Harrington (Andover Covered Bridge, LLC), 553 B.R. 162 (1st Cir. BAP 2016). “See 11 U.S.C. § 308 (b); Fed. R. Bankr.P. 2015(a)(6).”
Nester v. Gateway Access Solutions, Inc. (In Re Gateway Access Solutions, Inc.), 374 B.R. 556 (Bankr. M.D. Penn. 2007). “See generally 11 U.S.C. §§ 308 , 1116 & 1121(e). To date, no disclosure statement or plan of reorganization has been filed despite the exclusivity time period during which only the Debtor could file a plan having lapsed with no motion to extend it.”
In Re Babayoff, 445 B.R. 64 (Bankr. E.D.N.Y. 2011). “11 U.S.C. § 308 (b). Bankruptcy Rule 2015 requires a debtor in a Chapter 11 small business case to “file and transmit to the United States Trustee” the periodic financial report required by Bankruptcy Code Section 308 no later than the twenty-first day of the following month…”
Paratransit Risk Retention Grp. Ins. Co. v. Kamins, 160 P.3d 307 (Colo. Ct. App. 2007). “See 11 U.S.C. § 308 (h)(1). Be *316 cause this test is virtually identical to that contained in § 7-106-401(8)(a), we may look to federal authorities for guidance.”
In re Meltzer, 516 B.R. 504 (Bankr. N.D. Ill. 2014). “9011(c), as well as to relief under sections 303(k)(1) and (2), 11 U.S.C. §§ 308 (k)(1), (2). a. Sections 303(i) and (k) Section 303(i) describes several forms of relief a bankruptcy court can award a debtor when an involuntary case is dismissed other than on the consent of all…”
Kingsway Capital Partners, LLC v. Sosa, 549 B.R. 897 (N.D. Cal. 2016). “In addition, Kingsway argues that compliance with 11 U.S.C. § 308’s debtor reporting requirements— even sloppy compliance — precludes a finding of gross mismanagement.”
IBM Credit Corp. v. Compuhouse Sys., Inc., 179 B.R. 474 (W.D. Pa. 1995). “ICC contends that the Bankruptcy Court erred in failing to consider these verified claims based on the failure of these creditors to appear as “live witnesses” at the hearing on the motion to dismiss set by the Bankruptcy Court. ICC also argues that the Bankruptcy Court erred in…”
Gen. Trading Inc. v. Yale Materials Handling Corp., 119 F.3d 1485 (11th Cir. 1997). “See 11 U.S.C. § 308 (i)(2). To hold Yale liable because it lost the bona fide dispute argument would be inappropriate.”
In Re NRG Energy, Inc., 294 B.R. 71 (Bankr. D. Minn. 2003). “§ 303 (j)(2): Dismissal In the alternative, NRG requested dismissal of this case pursuant to 11 U.S.C. § 308 (j)(2): (j) Only after notice to all creditors and a hearing may the court dismiss a petition filed under [the Bankruptcy Code]— (2) on consent of all petitioners and the…”
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