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11 U.S.C. § 946 — Effect of exchange of securities before the date of the filing of the petition

submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 78 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section says that exchanging securities before or after a bankruptcy petition does not impair the plan or this chapter and counts exchanged claims for the specified voting calculation.

The exchange of a new security under the plan for a claim covered by the plan, whether that exchange occurred before or after the date of the filing of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter. The amount and number specified in section 1126(c) of this title include the amount and number of claims formerly held by a creditor that has participated in any that exchange.
the actual law source: uscode.house.gov ↗public domain

The exchange of a new security under the plan for a claim covered by the plan, whether such exchange occurred before or after the date of the filing of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter. The amount and number specified in section 1126(c) of this title include the amount and number of claims formerly held by a creditor that has participated in any such exchange.

Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2625.)

history & why it existsrecord from the source credit
  • 1978Enacted · Pub. L. 95-598 · 92 Stat. 2625

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.

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