4002-1

RULE 4002-1 DEBTOR - DUTIES

 

In addition to any other duties imposed upon the debtor or its counsel under the Bankruptcy Code, Rules, these LBRs, or any other applicable law, the debtor shall have the following duties:

 

(a) Debtor, and debtor’s officers and agents, if any, shall hold and manage debtor’s assets as fiduciaries for the estate in strict compliance with orders of this Court and Bankruptcy Code §§ 363 and 1108;

 

(b) Debtor shall take all steps reasonably necessary to prevent any significant depletion of the assets of the estate during the pendency of the case and shall advise the Court immediately of any significant depletion or anticipated depletion of assets of the estate; and

 

(c) If, at any time during the pendency of the case, the debtor becomes aware of facts indicating that

the continued operation of its business is not in the best interest of the creditors or of the estate, the debtor and/or counsel shall immediately advise the Court.