11 U.S.C. § 1520 — Effects of recognition of a foreign main proceeding
submitted 21 years ago by Pub. L. 109-8 to r/title-11-BANKRUPTCY · 210 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Upon recognition of a foreign proceeding* that is a foreign main proceeding—
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;
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;
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
section 552 applies to property of the debtor that is within the territorial jurisdiction of the United States.
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.
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 credit: (Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 141.)
- 2005Enacted · Pub. L. 109-8 · 119 Stat. 141
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-8 on 2005-04-20.
all 0 arguments · sorted by: best
no arguments yet — make the first case