Section 5.10 Extensions of Time

• Library: Bankruptcy Practice (2007 Ed. + 2015 Cum Supp)

B. (§5.10) Extensions of Time

Under 11 U.S.C. § 108, the Bankruptcy Code stays the expiration of numerous deadlines that had not expired as of the commencement of the case until a certain period of time has passed after the bankruptcy filing. These deadlines may have been created by nonbankruptcy law, by a nonbankruptcy court order, or by private agreement.

For instance, if the debtor is subject to a fixed period within which it may commence an action, § 108(a) provides that the trustee or debtor-in-possession may commence such action until the later of the end of such period or two years after the order for relief is entered in the bankruptcy case. Similarly, § 108(b) extends the period of time within which the debtor may file a pleading, demand, notice, or proof of claim or loss; cure a default; or perform any other similar act until the later of the end of such period or 60...