Chapter 15 - Ancillary and Other Cross-Border Cases
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Chapter 15 - Ancillary and Other Cross-Border Cases
Chapter 15 - Ancillary and Other Cross-Border Cases
-CITE-
11 USC CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER
CASES 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
-HEAD-
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
-MISC1-
Sec.
1501. Purpose and scope of application.
SUBCHAPTER I - GENERAL PROVISIONS
1502. Definitions.
1503. International obligations of the United States.
1504. Commencement of ancillary case.
1505. Authorization to act in a foreign country.
1506. Public policy exception.
1507. Additional assistance.
1508. Interpretation.
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
1509. Right of direct access.
1510. Limited jurisdiction.
1511. Commencement of case under section 301 or 303.
1512. Participation of a foreign representative in a case
under this title.
1513. Access of foreign creditors to a case under this
title.
1514. Notification to foreign creditors concerning a case
under this title.
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
1515. Application for recognition.
1516. Presumptions concerning recognition.
1517. Order granting recognition.
1518. Subsequent information.
1519. Relief that may be granted upon filing petition for
recognition.
1520. Effects of recognition of a foreign main proceeding.
1521. Relief that may be granted upon recognition.
1522. Protection of creditors and other interested persons.
1523. Actions to avoid acts detrimental to creditors.
1524. Intervention by a foreign representative.
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
1525. Cooperation and direct communication between the court
and foreign courts or foreign representatives.
1526. Cooperation and direct communication between the
trustee and foreign courts or foreign
representatives.
1527. Forms of cooperation.
SUBCHAPTER V - CONCURRENT PROCEEDINGS
1528. Commencement of a case under this title after
recognition of a foreign main proceeding.
1529. Coordination of a case under this title and a foreign
proceeding.
1530. Coordination of more than 1 foreign proceeding.
1531. Presumption of insolvency based on recognition of a
foreign main proceeding.
1532. Rule of payment in concurrent proceedings.
PRIOR PROVISIONS
A prior chapter 15, consisting of sections 1501 to 151326,
related to a pilot program for a United States trustee system,
prior to repeal by Pub. L. 99-554, title II, Sec. 231, Oct. 27,
1986, 100 Stat. 3103.
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11 USC Sec. 1501 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
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Sec. 1501. Purpose and scope of application
-STATUTE-
(a) The purpose of this chapter is to incorporate the Model Law
on Cross-Border Insolvency so as to provide effective mechanisms
for dealing with cases of cross-border insolvency with the
objectives of -
(1) cooperation between -
(A) courts of the United States, United States trustees,
trustees, examiners, debtors, and debtors in possession; and
(B) the courts and other competent authorities of foreign
countries involved in cross-border insolvency cases;
(2) greater legal certainty for trade and investment;
(3) fair and efficient administration of cross-border
insolvencies that protects the interests of all creditors, and
other interested entities, including the debtor;
(4) protection and maximization of the value of the debtor's
assets; and
(5) facilitation of the rescue of financially troubled
businesses, thereby protecting investment and preserving
employment.
(b) This chapter applies where -
(1) assistance is sought in the United States by a foreign
court or a foreign representative in connection with a foreign
proceeding;
(2) assistance is sought in a foreign country in connection
with a case under this title;
(3) a foreign proceeding and a case under this title with
respect to the same debtor are pending concurrently; or
(4) creditors or other interested persons in a foreign country
have an interest in requesting the commencement of, or
participating in, a case or proceeding under this title.
(c) This chapter does not apply to -
(1) a proceeding concerning an entity, other than a foreign
insurance company, identified by exclusion in section 109(b);
(2) an individual, or to an individual and such individual's
spouse, who have debts within the limits specified in section
109(e) and who are citizens of the United States or aliens
lawfully admitted for permanent residence in the United States;
or
(3) an entity subject to a proceeding under the Securities
Investor Protection Act of 1970, a stockbroker subject to
subchapter III of chapter 7 of this title, or a commodity broker
subject to subchapter IV of chapter 7 of this title.
(d) The court may not grant relief under this chapter with
respect to any deposit, escrow, trust fund, or other security
required or permitted under any applicable State insurance law or
regulation for the benefit of claim holders in the United States.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 135.)
-REFTEXT-
REFERENCES IN TEXT
The Securities Investor Protection Act of 1970, referred to in
subsec. (c)(3), is Pub. L. 91-598, Dec. 30, 1970, 84 Stat. 1636, as
amended, which is classified generally to chapter 2B-1 (Sec. 78aaa
et seq.) of Title 15, Commerce and Trade. For complete
classification of this Act to the Code, see section 78aaa of Title
15 and Tables.
-MISC1-
PRIOR PROVISIONS
A prior section 1501, Pub. L. 95-598, Nov. 6, 1978, 92 Stat.
2652, related to applicability of chapter which provided a pilot
program for a United States trustee system, prior to repeal by Pub.
L. 99-554, title II, Sec. 231, Oct. 27, 1986, 100 Stat. 3103.
EFFECTIVE DATE
Chapter effective 180 days after Apr. 20, 2005, and not
applicable with respect to cases commenced under this title before
such effective date, except as otherwise provided, see section 1501
of Pub. L. 109-8, set out as an Effective Date of 2005 Amendment
note under section 101 of this title.
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11 USC SUBCHAPTER I - GENERAL PROVISIONS 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
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SUBCHAPTER I - GENERAL PROVISIONS
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11 USC Sec. 1502 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
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Sec. 1502. Definitions
-STATUTE-
For the purposes of this chapter, the term -
(1) "debtor" means an entity that is the subject of a foreign
proceeding;
(2) "establishment" means any place of operations where the
debtor carries out a nontransitory economic activity;
(3) "foreign court" means a judicial or other authority
competent to control or supervise a foreign proceeding;
(4) "foreign main proceeding" means a foreign proceeding
pending in the country where the debtor has the center of its
main interests;
(5) "foreign nonmain proceeding" means a foreign proceeding,
other than a foreign main proceeding, pending in a country where
the debtor has an establishment;
(6) "trustee" includes a trustee, a debtor in possession in a
case under any chapter of this title, or a debtor under chapter 9
of this title;
(7) "recognition" means the entry of an order granting
recognition of a foreign main proceeding or foreign nonmain
proceeding under this chapter; and
(8) "within the territorial jurisdiction of the United States",
when used with reference to property of a debtor, refers to
tangible property located within the territory of the United
States and intangible property deemed under applicable
nonbankruptcy law to be located within that territory, including
any property subject to attachment or garnishment that may
properly be seized or garnished by an action in a Federal or
State court in the United States.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 135.)
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11 USC Sec. 1503 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1503. International obligations of the United States
-STATUTE-
To the extent that this chapter conflicts with an obligation of
the United States arising out of any treaty or other form of
agreement to which it is a party with one or more other countries,
the requirements of the treaty or agreement prevail.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 136.)
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11 USC Sec. 1504 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1504. Commencement of ancillary case
-STATUTE-
A case under this chapter is commenced by the filing of a
petition for recognition of a foreign proceeding under section
1515.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 136.)
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11 USC Sec. 1505 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1505. Authorization to act in a foreign country
-STATUTE-
A trustee or another entity (including an examiner) may be
authorized by the court to act in a foreign country on behalf of an
estate created under section 541. An entity authorized to act under
this section may act in any way permitted by the applicable foreign
law.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 136.)
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11 USC Sec. 1506 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1506. Public policy exception
-STATUTE-
Nothing in this chapter prevents the court from refusing to take
an action governed by this chapter if the action would be
manifestly contrary to the public policy of the United States.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 136.)
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11 USC Sec. 1507 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1507. Additional assistance
-STATUTE-
(a) Subject to the specific limitations stated elsewhere in this
chapter the court, if recognition is granted, may provide
additional assistance to a foreign representative under this title
or under other laws of the United States.
(b) In determining whether to provide additional assistance under
this title or under other laws of the United States, the court
shall consider whether such additional assistance, consistent with
the principles of comity, will reasonably assure -
(1) just treatment of all holders of claims against or
interests in the debtor's property;
(2) protection of claim holders in the United States against
prejudice and inconvenience in the processing of claims in such
foreign proceeding;
(3) prevention of preferential or fraudulent dispositions of
property of the debtor;
(4) distribution of proceeds of the debtor's property
substantially in accordance with the order prescribed by this
title; and
(5) if appropriate, the provision of an opportunity for a fresh
start for the individual that such foreign proceeding concerns.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 136.)
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11 USC Sec. 1508 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER I - GENERAL PROVISIONS
-HEAD-
Sec. 1508. Interpretation
-STATUTE-
In interpreting this chapter, the court shall consider its
international origin, and the need to promote an application of
this chapter that is consistent with the application of similar
statutes adopted by foreign jurisdictions.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 137.)
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11 USC SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES
AND CREDITORS TO THE COURT 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
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11 USC Sec. 1509 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1509. Right of direct access
-STATUTE-
(a) A foreign representative may commence a case under section
1504 by filing directly with the court a petition for recognition
of a foreign proceeding under section 1515.
(b) If the court grants recognition under section 1517, and
subject to any limitations that the court may impose consistent
with the policy of this chapter -
(1) the foreign representative has the capacity to sue and be
sued in a court in the United States;
(2) the foreign representative may apply directly to a court in
the United States for appropriate relief in that court; and
(3) a court in the United States shall grant comity or
cooperation to the foreign representative.
(c) A request for comity or cooperation by a foreign
representative in a court in the United States other than the court
which granted recognition shall be accompanied by a certified copy
of an order granting recognition under section 1517.
(d) If the court denies recognition under this chapter, the court
may issue any appropriate order necessary to prevent the foreign
representative from obtaining comity or cooperation from courts in
the United States.
(e) Whether or not the court grants recognition, and subject to
sections 306 and 1510, a foreign representative is subject to
applicable nonbankruptcy law.
(f) Notwithstanding any other provision of this section, the
failure of a foreign representative to commence a case or to obtain
recognition under this chapter does not affect any right the
foreign representative may have to sue in a court in the United
States to collect or recover a claim which is the property of the
debtor.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 137.)
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11 USC Sec. 1510 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1510. Limited jurisdiction
-STATUTE-
The sole fact that a foreign representative files a petition
under section 1515 does not subject the foreign representative to
the jurisdiction of any court in the United States for any other
purpose.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 138.)
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11 USC Sec. 1511 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1511. Commencement of case under section 301 or 303
-STATUTE-
(a) Upon recognition, a foreign representative may commence -
(1) an involuntary case under section 303; or
(2) a voluntary case under section 301 or 302, if the foreign
proceeding is a foreign main proceeding.
(b) The petition commencing a case under subsection (a) must be
accompanied by a certified copy of an order granting recognition.
The court where the petition for recognition has been filed must be
advised of the foreign representative's intent to commence a case
under subsection (a) prior to such commencement.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 138.)
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11 USC Sec. 1512 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1512. Participation of a foreign representative in a case
under this title
-STATUTE-
Upon recognition of a foreign proceeding, the foreign
representative in the recognized proceeding is entitled to
participate as a party in interest in a case regarding the debtor
under this title.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 138.)
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11 USC Sec. 1513 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1513. Access of foreign creditors to a case under this title
-STATUTE-
(a) Foreign creditors have the same rights regarding the
commencement of, and participation in, a case under this title as
domestic creditors.
(b)(1) Subsection (a) does not change or codify present law as to
the priority of claims under section 507 or 726, except that the
claim of a foreign creditor under those sections shall not be given
a lower priority than that of general unsecured claims without
priority solely because the holder of such claim is a foreign
creditor.
(2)(A) Subsection (a) and paragraph (1) do not change or codify
present law as to the allowability of foreign revenue claims or
other foreign public law claims in a proceeding under this title.
(B) Allowance and priority as to a foreign tax claim or other
foreign public law claim shall be governed by any applicable tax
treaty of the United States, under the conditions and circumstances
specified therein.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 138.)
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11 USC Sec. 1514 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO
THE COURT
-HEAD-
Sec. 1514. Notification to foreign creditors concerning a case
under this title
-STATUTE-
(a) Whenever in a case under this title notice is to be given to
creditors generally or to any class or category of creditors, such
notice shall also be given to the known creditors generally, or to
creditors in the notified class or category, that do not have
addresses in the United States. The court may order that
appropriate steps be taken with a view to notifying any creditor
whose address is not yet known.
(b) Such notification to creditors with foreign addresses
described in subsection (a) shall be given individually, unless the
court considers that, under the circumstances, some other form of
notification would be more appropriate. No letter or other
formality is required.
(c) When a notification of commencement of a case is to be given
to foreign creditors, such notification shall -
(1) indicate the time period for filing proofs of claim and
specify the place for filing such proofs of claim;
(2) indicate whether secured creditors need to file proofs of
claim; and
(3) contain any other information required to be included in
such notification to creditors under this title and the orders of
the court.
(d) Any rule of procedure or order of the court as to notice or
the filing of a proof of claim shall provide such additional time
to creditors with foreign addresses as is reasonable under the
circumstances.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 138.)
-End-
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11 USC SUBCHAPTER III - RECOGNITION OF A FOREIGN
PROCEEDING AND RELIEF 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-End-
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11 USC Sec. 1515 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1515. Application for recognition
-STATUTE-
(a) A foreign representative applies to the court for recognition
of a foreign proceeding in which the foreign representative has
been appointed by filing a petition for recognition.
(b) A petition for recognition shall be accompanied by -
(1) a certified copy of the decision commencing such foreign
proceeding and appointing the foreign representative;
(2) a certificate from the foreign court affirming the
existence of such foreign proceeding and of the appointment of
the foreign representative; or
(3) in the absence of evidence referred to in paragraphs (1)
and (2), any other evidence acceptable to the court of the
existence of such foreign proceeding and of the appointment of
the foreign representative.
(c) A petition for recognition shall also be accompanied by a
statement identifying all foreign proceedings with respect to the
debtor that are known to the foreign representative.
(d) The documents referred to in paragraphs (1) and (2) of
subsection (b) shall be translated into English. The court may
require a translation into English of additional documents.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 139.)
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11 USC Sec. 1516 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1516. Presumptions concerning recognition
-STATUTE-
(a) If the decision or certificate referred to in section 1515(b)
indicates that the foreign proceeding is a foreign proceeding and
that the person or body is a foreign representative, the court is
entitled to so presume.
(b) The court is entitled to presume that documents submitted in
support of the petition for recognition are authentic, whether or
not they have been legalized.
(c) In the absence of evidence to the contrary, the debtor's
registered office, or habitual residence in the case of an
individual, is presumed to be the center of the debtor's main
interests.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 139.)
-End-
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11 USC Sec. 1517 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1517. Order granting recognition
-STATUTE-
(a) Subject to section 1506, after notice and a hearing, an order
recognizing a foreign proceeding shall be entered if -
(1) such foreign proceeding for which recognition is sought is
a foreign main proceeding or foreign nonmain proceeding within
the meaning of section 1502;
(2) the foreign representative applying for recognition is a
person or body; and
(3) the petition meets the requirements of section 1515.
(b) Such foreign proceeding shall be recognized -
(1) as a foreign main proceeding if it is pending in the
country where the debtor has the center of its main interests; or
(2) as a foreign nonmain proceeding if the debtor has an
establishment within the meaning of section 1502 in the foreign
country where the proceeding is pending.
(c) A petition for recognition of a foreign proceeding shall be
decided upon at the earliest possible time. Entry of an order
recognizing a foreign proceeding constitutes recognition under this
chapter.
(d) The provisions of this subchapter do not prevent modification
or termination of recognition if it is shown that the grounds for
granting it were fully or partially lacking or have ceased to
exist, but in considering such action the court shall give due
weight to possible prejudice to parties that have relied upon the
order granting recognition. A case under this chapter may be closed
in the manner prescribed under section 350.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 139.)
-End-
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11 USC Sec. 1518 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1518. Subsequent information
-STATUTE-
From the time of filing the petition for recognition of a foreign
proceeding, the foreign representative shall file with the court
promptly a notice of change of status concerning -
(1) any substantial change in the status of such foreign
proceeding or the status of the foreign representative's
appointment; and
(2) any other foreign proceeding regarding the debtor that
becomes known to the foreign representative.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 140.)
-End-
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11 USC Sec. 1519 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1519. Relief that may be granted upon filing petition for
recognition
-STATUTE-
(a) From the time of filing a petition for recognition until the
court rules on the petition, the court may, at the request of the
foreign representative, where relief is urgently needed to protect
the assets of the debtor or the interests of the creditors, grant
relief of a provisional nature, including -
(1) staying execution against the debtor's assets;
(2) entrusting the administration or realization of all or part
of the debtor's assets located in the United States to the
foreign representative or another person authorized by the court,
including an examiner, in order to protect and preserve the value
of assets that, by their nature or because of other
circumstances, are perishable, susceptible to devaluation or
otherwise in jeopardy; and
(3) any relief referred to in paragraph (3), (4), or (7) of
section 1521(a).
(b) Unless extended under section 1521(a)(6), the relief granted
under this section terminates when the petition for recognition is
granted.
(c) It is a ground for denial of relief under this section that
such relief would interfere with the administration of a foreign
main proceeding.
(d) The court may not enjoin a police or regulatory act of a
governmental unit, including a criminal action or proceeding, under
this section.
(e) The standards, procedures, and limitations applicable to an
injunction shall apply to relief under this section.
(f) The exercise of rights not subject to the stay arising under
section 362(a) pursuant to paragraph (6), (7), (17), or (27) of
section 362(b) or pursuant to section 362(n) shall not be stayed by
any order of a court or administrative agency in any proceeding
under this chapter.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 140.)
-End-
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11 USC Sec. 1520 01/05/2009
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TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1520. Effects of recognition of a foreign main proceeding
-STATUTE-
(a) Upon recognition of a foreign proceeding that is a foreign
main proceeding -
(1) sections 361 and 362 apply with respect to the debtor and
the property of the debtor that is within the territorial
jurisdiction of the United States;
(2) sections 363, 549, and 552 apply to a transfer of an
interest of the debtor in property that is within the territorial
jurisdiction of the United States to the same extent that the
sections would apply to property of an estate;
(3) unless the court orders otherwise, the foreign
representative may operate the debtor's business and may exercise
the rights and powers of a trustee under and to the extent
provided by sections 363 and 552; and
(4) section 552 applies to property of the debtor that is
within the territorial jurisdiction of the United States.
(b) Subsection (a) does not affect the right to commence an
individual action or proceeding in a foreign country to the extent
necessary to preserve a claim against the debtor.
(c) Subsection (a) does not affect the right of a foreign
representative or an entity to file a petition commencing a case
under this title or the right of any party to file claims or take
other proper actions in such a case.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 141.)
-End-
-CITE-
11 USC Sec. 1521 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1521. Relief that may be granted upon recognition
-STATUTE-
(a) Upon recognition of a foreign proceeding, whether main or
nonmain, where necessary to effectuate the purpose of this chapter
and to protect the assets of the debtor or the interests of the
creditors, the court may, at the request of the foreign
representative, grant any appropriate relief, including -
(1) staying the commencement or continuation of an individual
action or proceeding concerning the debtor's assets, rights,
obligations or liabilities to the extent they have not been
stayed under section 1520(a);
(2) staying execution against the debtor's assets to the extent
it has not been stayed under section 1520(a);
(3) suspending the right to transfer, encumber or otherwise
dispose of any assets of the debtor to the extent this right has
not been suspended under section 1520(a);
(4) providing for the examination of witnesses, the taking of
evidence or the delivery of information concerning the debtor's
assets, affairs, rights, obligations or liabilities;
(5) entrusting the administration or realization of all or part
of the debtor's assets within the territorial jurisdiction of the
United States to the foreign representative or another person,
including an examiner, authorized by the court;
(6) extending relief granted under section 1519(a); and
(7) granting any additional relief that may be available to a
trustee, except for relief available under sections 522, 544,
545, 547, 548, 550, and 724(a).
(b) Upon recognition of a foreign proceeding, whether main or
nonmain, the court may, at the request of the foreign
representative, entrust the distribution of all or part of the
debtor's assets located in the United States to the foreign
representative or another person, including an examiner, authorized
by the court, provided that the court is satisfied that the
interests of creditors in the United States are sufficiently
protected.
(c) In granting relief under this section to a representative of
a foreign nonmain proceeding, the court must be satisfied that the
relief relates to assets that, under the law of the United States,
should be administered in the foreign nonmain proceeding or
concerns information required in that proceeding.
(d) The court may not enjoin a police or regulatory act of a
governmental unit, including a criminal action or proceeding, under
this section.
(e) The standards, procedures, and limitations applicable to an
injunction shall apply to relief under paragraphs (1), (2), (3),
and (6) of subsection (a).
(f) The exercise of rights not subject to the stay arising under
section 362(a) pursuant to paragraph (6), (7), (17), or (27) of
section 362(b) or pursuant to section 362(n) shall not be stayed by
any order of a court or administrative agency in any proceeding
under this chapter.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 141.)
-End-
-CITE-
11 USC Sec. 1522 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1522. Protection of creditors and other interested persons
-STATUTE-
(a) The court may grant relief under section 1519 or 1521, or may
modify or terminate relief under subsection (c), only if the
interests of the creditors and other interested entities, including
the debtor, are sufficiently protected.
(b) The court may subject relief granted under section 1519 or
1521, or the operation of the debtor's business under section
1520(a)(3), to conditions it considers appropriate, including the
giving of security or the filing of a bond.
(c) The court may, at the request of the foreign representative
or an entity affected by relief granted under section 1519 or 1521,
or at its own motion, modify or terminate such relief.
(d) Section 1104(d) shall apply to the appointment of an examiner
under this chapter. Any examiner shall comply with the
qualification requirements imposed on a trustee by section 322.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 142.)
-End-
-CITE-
11 USC Sec. 1523 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1523. Actions to avoid acts detrimental to creditors
-STATUTE-
(a) Upon recognition of a foreign proceeding, the foreign
representative has standing in a case concerning the debtor pending
under another chapter of this title to initiate actions under
sections 522, 544, 545, 547, 548, 550, 553, and 724(a).
(b) When a foreign proceeding is a foreign nonmain proceeding,
the court must be satisfied that an action under subsection (a)
relates to assets that, under United States law, should be
administered in the foreign nonmain proceeding.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 142.)
-End-
-CITE-
11 USC Sec. 1524 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-HEAD-
Sec. 1524. Intervention by a foreign representative
-STATUTE-
Upon recognition of a foreign proceeding, the foreign
representative may intervene in any proceedings in a State or
Federal court in the United States in which the debtor is a party.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 142.)
-End-
-CITE-
11 USC SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS
AND FOREIGN REPRESENTATIVES 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
-HEAD-
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
-End-
-CITE-
11 USC Sec. 1525 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
-HEAD-
Sec. 1525. Cooperation and direct communication between the court
and foreign courts or foreign representatives
-STATUTE-
(a) Consistent with section 1501, the court shall cooperate to
the maximum extent possible with a foreign court or a foreign
representative, either directly or through the trustee.
(b) The court is entitled to communicate directly with, or to
request information or assistance directly from, a foreign court or
a foreign representative, subject to the rights of a party in
interest to notice and participation.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 143.)
-End-
-CITE-
11 USC Sec. 1526 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
-HEAD-
Sec. 1526. Cooperation and direct communication between the trustee
and foreign courts or foreign representatives
-STATUTE-
(a) Consistent with section 1501, the trustee or other person,
including an examiner, authorized by the court, shall, subject to
the supervision of the court, cooperate to the maximum extent
possible with a foreign court or a foreign representative.
(b) The trustee or other person, including an examiner,
authorized by the court is entitled, subject to the supervision of
the court, to communicate directly with a foreign court or a
foreign representative.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 143.)
-End-
-CITE-
11 USC Sec. 1527 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN
REPRESENTATIVES
-HEAD-
Sec. 1527. Forms of cooperation
-STATUTE-
Cooperation referred to in sections 1525 and 1526 may be
implemented by any appropriate means, including -
(1) appointment of a person or body, including an examiner, to
act at the direction of the court;
(2) communication of information by any means considered
appropriate by the court;
(3) coordination of the administration and supervision of the
debtor's assets and affairs;
(4) approval or implementation of agreements concerning the
coordination of proceedings; and
(5) coordination of concurrent proceedings regarding the same
debtor.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 143.)
-End-
-CITE-
11 USC SUBCHAPTER V - CONCURRENT PROCEEDINGS 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-End-
-CITE-
11 USC Sec. 1528 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
Sec. 1528. Commencement of a case under this title after
recognition of a foreign main proceeding
-STATUTE-
After recognition of a foreign main proceeding, a case under
another chapter of this title may be commenced only if the debtor
has assets in the United States. The effects of such case shall be
restricted to the assets of the debtor that are within the
territorial jurisdiction of the United States and, to the extent
necessary to implement cooperation and coordination under sections
1525, 1526, and 1527, to other assets of the debtor that are within
the jurisdiction of the court under sections 541(a) of this title,
and 1334(e) of title 28, to the extent that such other assets are
not subject to the jurisdiction and control of a foreign proceeding
that has been recognized under this chapter.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 143.)
-End-
-CITE-
11 USC Sec. 1529 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
Sec. 1529. Coordination of a case under this title and a foreign
proceeding
-STATUTE-
If a foreign proceeding and a case under another chapter of this
title are pending concurrently regarding the same debtor, the court
shall seek cooperation and coordination under sections 1525, 1526,
and 1527, and the following shall apply:
(1) If the case in the United States pending at the time the
petition for recognition of such foreign proceeding is filed -
(A) any relief granted under section 1519 or 1521 must be
consistent with the relief granted in the case in the United
States; and
(B) section 1520 does not apply even if such foreign
proceeding is recognized as a foreign main proceeding.
(2) If a case in the United States under this title commences
after recognition, or after the date of the filing of the
petition for recognition, of such foreign proceeding -
(A) any relief in effect under section 1519 or 1521 shall be
reviewed by the court and shall be modified or terminated if
inconsistent with the case in the United States; and
(B) if such foreign proceeding is a foreign main proceeding,
the stay and suspension referred to in section 1520(a) shall be
modified or terminated if inconsistent with the relief granted
in the case in the United States.
(3) In granting, extending, or modifying relief granted to a
representative of a foreign nonmain proceeding, the court must be
satisfied that the relief relates to assets that, under the laws
of the United States, should be administered in the foreign
nonmain proceeding or concerns information required in that
proceeding.
(4) In achieving cooperation and coordination under sections
1528 and 1529, the court may grant any of the relief authorized
under section 305.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 144.)
-End-
-CITE-
11 USC Sec. 1530 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
Sec. 1530. Coordination of more than 1 foreign proceeding
-STATUTE-
In matters referred to in section 1501, with respect to more than
1 foreign proceeding regarding the debtor, the court shall seek
cooperation and coordination under sections 1525, 1526, and 1527,
and the following shall apply:
(1) Any relief granted under section 1519 or 1521 to a
representative of a foreign nonmain proceeding after recognition
of a foreign main proceeding must be consistent with the foreign
main proceeding.
(2) If a foreign main proceeding is recognized after
recognition, or after the filing of a petition for recognition,
of a foreign nonmain proceeding, any relief in effect under
section 1519 or 1521 shall be reviewed by the court and shall be
modified or terminated if inconsistent with the foreign main
proceeding.
(3) If, after recognition of a foreign nonmain proceeding,
another foreign nonmain proceeding is recognized, the court shall
grant, modify, or terminate relief for the purpose of
facilitating coordination of the proceedings.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 144.)
-End-
-CITE-
11 USC Sec. 1531 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
Sec. 1531. Presumption of insolvency based on recognition of a
foreign main proceeding
-STATUTE-
In the absence of evidence to the contrary, recognition of a
foreign main proceeding is, for the purpose of commencing a
proceeding under section 303, proof that the debtor is generally
not paying its debts as such debts become due.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 144.)
-End-
-CITE-
11 USC Sec. 1532 01/05/2009
-EXPCITE-
TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
SUBCHAPTER V - CONCURRENT PROCEEDINGS
-HEAD-
Sec. 1532. Rule of payment in concurrent proceedings
-STATUTE-
Without prejudice to secured claims or rights in rem, a creditor
who has received payment with respect to its claim in a foreign
proceeding pursuant to a law relating to insolvency may not receive
a payment for the same claim in a case under any other chapter of
this title regarding the debtor, so long as the payment to other
creditors of the same class is proportionately less than the
payment the creditor has already received.
-SOURCE-
(Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
Stat. 145.)
-MISC1-
PRIOR PROVISIONS
Sections 15101 to 151326 of prior chapter 15 were repealed by
Pub. L. 99-554, title II, Sec. 231, Oct. 27, 1986, 100 Stat. 3103.
Section 15101, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2652,
related to definitions.
Section 15102, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2652,
related to a rule of construction.
Section 15103, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2652; Pub.
L. 98-353, title III, Secs. 311(b)(3), 318(b), July 10, 1984, 98
Stat. 355, 357, related to applicability of subchapters and
sections.
Section 15303, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to involuntary cases.
Section 15321, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to eligibility to serve as trustee.
Section 15322, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to qualification of trustee.
Section 15324, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to removal of trustee or examiner.
Section 15326, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to limitation on compensation of trustee.
Section 15330, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to compensation of officers.
Section 15343, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2653,
related to examination of debtor.
Section 15345, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2654; Pub.
L. 97-258, Sec. 3(c), Sept. 13, 1982, 96 Stat. 1064, related to
money of estates.
Section 15701, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2654,
related to interim trustee.
Section 15703, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2654,
related to successor trustee.
Section 15704, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2655,
related to duties of trustee.
Section 15727, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2655,
related to discharge.
Section 151102, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2655,
related to creditors' and equity security holders' committees.
Section 151104, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2655,
related to appointment of trustee or examiner.
Section 151105, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2656,
related to termination of trustee's appointment.
Section 151163, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2656,
related to appointment of trustee.
Section 151302, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2656; Pub.
L. 98-353, title III, Secs. 311(b)(4), 534, July 10, 1984, 98 Stat.
355, 390, related to trustees.
Section 151326, Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2657,
related to payments.
Effective date and applicability of repeal by Pub. L. 99-554
dependent upon the judicial district involved, see section 302(d),
(e) of Pub. L. 99-554, set out as an Effective Date note under
section 581 of Title 28, Judiciary and Judicial Procedure.
Pub. L. 95-598, title IV, Sec. 408(c), Nov. 6, 1978, 92 Stat.
2687, as amended by Pub. L. 98-166, title II, Sec. 200, Nov. 28,
1983, 97 Stat. 1081; Pub. L. 98-353, title III, Sec. 323, July 10,
1984, 98 Stat. 358; Pub. L. 99-429, Sept. 30, 1986, 100 Stat. 985;
Pub. L. 99-500, Sec. 101(b) [title II, Sec. 200], Oct. 18, 1986,
100 Stat. 1783-39, 1783-45, and Pub. L. 99-591, Sec. 101(b) [title
II, Sec. 200], Oct. 30, 1986, 100 Stat. 3341-39, 3341-45; Pub. L.
99-554, title III, Sec. 307(a), Oct. 27, 1986, 100 Stat. 3125,
provided for the repeal of prior chapter 15 at a prospective date,
prior to repeal by Pub. L. 99-554, title III, Sec. 307(b), Oct. 27,
1986, 100 Stat. 3125.
-End-
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