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11 U.S.C. § 1528Commencement of a case under this title after recognition of a foreign main proceeding

submitted 21 years ago by Pub. L. 109-8 to r/title-11-BANKRUPTCY · 119 words · no verdicts yet

in plain englishAI-generated · not legal advice

After a foreign main proceeding is recognized, a United States case may start only if the debtor has U.S. assets, and its effects are limited as this section specifies.

After recognition of a foreign main proceeding, a case under another chapter of this title may begin only if the debtor has assets in the United States. The case’s effects are limited to the debtor’s assets within U.S. territorial jurisdiction and, as needed to cooperate and coordinate under sections 1525–1527, other debtor assets within the court’s jurisdiction under section 541(a) and section 1334(e) of title 28, to the extent those other assets are not under the jurisdiction and control of a foreign proceeding recognized under this chapter.
the actual law source: uscode.house.gov ↗public domain

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 credit: (Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 143.)

history & why it existsrecord from the source credit
  • 2005Enacted · Pub. L. 109-8 · 119 Stat. 143

A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-8 on 2005-04-20.

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