What is a Chapter 11 Monthly Operating Report?
A San Jose bankruptcy lawyer describes the monthly operating report in a Chapter 11 bankruptcy filing...
A monthly operating report is filed by the debtor (refered to as "debtor in possession") during a Chapter 11 bankruptcy filing. The monthly operating report is an account record of revenue and expenses that are logged per month, each month, during an open Chapter 11 filing by a business. If the Chapter 11 filer does not submit the monthly operating report they are subject to their business filing being dismissed by the bankruptcy court or having it converted to a Chapter 7 filing. This would be initiated by the U.S. Trustee.
The person that files the monthly operating report is typically a principal of the business that is filing and is in charge of faciliating the restructuring of the debt according to the guidelines of Chapter 11 under the US Bankruptcy Code.
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