STORAGE OF BOOKS AND RECORDS
U.S. Bankruptcy Court for the Southern District of New York
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The trustee or debtor in possession may place in storage, at the expense of the estate, the debtor's books, records, and papers. If stored, electronic records must be stored in their original electronic formats. Non-electronic records may be converted and stored in electronic format. Comment This rule is derived from Former Local Bankruptcy Rule 43.
This rule sets no time limit on the storage of books and records. On request, the Court may issue an appropriate order limiting storage of the debtor's books, records, and papers. Disposal of the debtor's books, records, and papers is governed by sections 363 and 554 of the Bankruptcy Code. This rule was amended in 2016 to permit the electronic storage of documents.
The estate may electronically store preexisting electronic records in their original formatting and may convert and store other documents in electronic format as well. The rule was intended to provide a more cost-effective alternative to store the debtor’s books, records and papers.