§1142 — Title 11 Bankruptcy | U.S. Code

Summary

The debtor and any company created to carry out the plan must follow the plan and obey the court’s orders, even if other financial laws or rules say something different. The court can also order the debtor and anyone else needed to sign papers, transfer property, or do other things—like pay off or remove legal claims on property—needed to finish the 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