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
Unless contrary evidence exists, recognition of a foreign main proceeding proves for a section 303 case that the debtor generally is not paying debts when due.
Unless there is evidence to the contrary, recognizing a foreign main proceeding is proof, for starting a proceeding under section 303, that the debtor* generally is not paying debts as they become due.
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.)
- 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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