Title 11 — BankruptcyRelease 119-73not60
§1531 Presumption of Insolvency Based on Recognition of a Foreign Main Proceeding
Title 11 › Chapter 15— ANCILLARY AND OTHER CROSS-BORDER CASES › Subchapter V— CONCURRENT PROCEEDINGS › § 1531
Summary
When a foreign court's main bankruptcy case is recognized here, that recognition counts as proof—unless someone shows otherwise—that the debtor is not paying its bills as they come due for starting an involuntary bankruptcy case under section 303.
Full Legal Text
Title 11, §1531
Bankruptcy — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
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.
Reference
Citations & Metadata
Citation
11 U.S.C. § 1531
Title 11 — Bankruptcy
Last Updated
Apr 3, 2026
Release point: 119-73not60