Does the automatic stay provision of Section 362 of the Bankruptcy Code apply only to the commencement or continuation of an action or proceeding against the debtor?

The language of Section 362 of the Bankruptcy Code is explicit that the automatic stay provision applies only to the commencement or continuation of an action or proceeding against the debtor. The statute does not stay a debtor from the commencement or continuation of an action or proceeding against a third party. The effort of a debtor in bankruptcy to recover its assets for the benefit of its creditors does not come in conflict with the intended purpose of the automatic stay provision of the Bankruptcy Code. (See Meyer v. Fleming, 327 U.S. 161, 66 S.Ct. 382, 90 L.Ed. 595).