§1529 — Title 11 Bankruptcy | U.S. Code

Summary

The court must try to cooperate and coordinate when a foreign proceeding and a U.S. bankruptcy case about the same debtor are happening at the same time, under sections 1525, 1526, and 1527. If the U.S. case is already underway when the petition to recognize the foreign proceeding is filed, any emergency or temporary orders under sections 1519 or 1521 must match the U.S. case, and section 1520 cannot apply even if the foreign proceeding is a foreign main proceeding. If the U.S. case starts after recognition or after the filing date for recognition, any orders under 1519 or 1521 will be reviewed and can be changed or ended if they conflict with the U.S. case. If the foreign proceeding is a foreign main proceeding, the stay or suspension in section 1520(a) can also be changed or ended if it conflicts with the U.S. case. For relief to a representative of a foreign nonmain proceeding, the court must be sure the relief involves assets that U.S. law says belong to that foreign nonmain proceeding or information needed there. To help coordinate under sections 1528 and 1529, the court may grant relief allowed by section 305.

Title 11, §1529

Bankruptcy — Source: USLM XML via OLRC

If a foreign proceeding and a case under another chapter of this title are pending concurrently regarding the same debtor, the court shall seek cooperation and coordination under section 1525, 1526, and 1527, and the following shall apply:

(1)If the case in the United States is pending at the time the petition for recognition of such foreign proceeding is filed—

(A)any relief granted under section 1519 or 1521 must be consistent with the relief granted in the case in the United States; and

(B)section 1520 does not apply even if such foreign proceeding is recognized as a foreign main proceeding.

(2)If a case in the United States under this title commences after recognition, or after the date of the filing of the petition for recognition, of such foreign proceeding—

(A)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 case in the United States; and

(B)if such foreign proceeding is a foreign main proceeding, the stay and suspension referred to in section 1520(a) shall be modified or terminated if inconsistent with the relief granted in the case in the United States.

(3)In granting, extending, or modifying relief granted to a representative of a foreign nonmain proceeding, the court must be satisfied that the relief relates to assets that, under the laws of the United States, should be administered in the foreign nonmain proceeding or concerns information required in that proceeding.

(4)In achieving cooperation and coordination under section 1528 and 1529, the court may grant any of the relief authorized under section 305.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2010—Par. (1). Pub. L. 111–327, which directed amendment of par. (1) by inserting “is” after “States”, was executed by making the insertion only in introductory provisions to reflect the probable intent of Congress.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such

Effective Date

, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as an

Effective Date

of 2005 Amendment note under section 101 of this title.

§1529 Coordination of a case under this title and a foreign proceeding

Summary

Title 11, §1529

Notes & Related Subsidiaries

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Effective Date

Citations & Metadata