Midway Industrial Contractors, Inc. v. Ameron Protective Coatings (In Re Midway Industrial Contractors, Inc.)

MEMORANDUM OPINION

SUSAN PIERSON SONDERBY, Bankruptcy Judge.

This opinion addresses the issue of whether a debtor in possession is bound by the two-year statute of limitations period contained in 11 U.S.C. § 546 of the Bankruptcy Code. Numerous courts have addressed this issue with conflicting results. Taking into consideration the plain language of the Bankruptcy Code, the Bankruptcy Reform Act of 1994, and the arguments made in the parties’ papers, the Court finds that the statute of limitations is triggered by the appointment of a trustee and does not apply to a debtor in possession.

FACTS

The…