PRIA, Government Policy, Made Personal

Summary

The debtor and any group set up to carry out the plan must put the plan into action and obey the court’s orders, even if other laws or financial rules would normally say something different. The court can require the debtor and other needed people to sign papers, transfer property, pay off liens, or do other steps needed to finish the confirmed plan.

Title 11, §1142

Bankruptcy, Source: USLM XML via OLRC

(a)Notwithstanding any otherwise applicable nonbankruptcy law, rule, or regulation relating to financial condition, the debtor and any entity organized or to be organized for the purpose of carrying out the plan shall carry out the plan and shall comply with any orders of the court.

(b)The court may direct the debtor and any other necessary party to execute or deliver or to join in the execution or delivery of any instrument required to effect a transfer of property dealt with by a confirmed plan, and to perform any other act, including the satisfaction of any lien, that is necessary for the consummation of the plan.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1984—Pub. L. 98–353, § 514(a), substituted “Implementation” for “Execution” in section catchline. Subsec. (a). Pub. L. 98–353, § 514(c), struck out the comma after “shall carry out the plan”. Subsec. (b). Pub. L. 98–353, § 514(d), inserted “a” after “by”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1984 AmendmentAmendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title.

§1142 Implementation of Plan