11 U.S.C. § 1530 — Coordination of more than 1 foreign proceeding
submitted 21 years ago by Pub. L. 109-8 to r/title-11-BANKRUPTCY · 152 words · no verdicts yet
When more than one foreign proceeding concerns the debtor, the court must coordinate them and keep relief consistent with a recognized foreign main proceeding.
For matters in section 1501 involving more than one foreign proceeding* for the debtor*, the court must seek cooperation and coordination under sections 1525–1527. (1) Relief under section 1519 or 1521 given to a nonmain representative after a foreign main proceeding is recognized must be consistent with the main proceeding. (2) If a main proceeding is recognized after a nonmain proceeding was recognized or its recognition petition was filed, the court must review existing relief under sections 1519 or 1521 and modify or end it if inconsistent with the main proceeding. (3) If another nonmain proceeding is recognized after one nonmain proceeding was recognized, the court must grant, modify, or end relief to help coordinate the proceedings.
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:
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.
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.
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 credit: (Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 144.)
- 2005Enacted · Pub. L. 109-8 · 119 Stat. 144
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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