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11 U.S.C. § 1531 — Presumption of insolvency based on recognition of a foreign main proceeding

submitted 21 years ago by Pub. L. 109-8 to r/title-11-BANKRUPTCY · 40 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

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 credit: (Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 144.)

history & why it existsrecord from the source credit
  • 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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