Title 11, BankruptcyRelease 119-102
§753 Stockbroker Liquidation and Forward Contract Merchants, Commodity Brokers, Stockbrokers, Financial Institutions, Financial Participants, Securities Clearing Agencies, Swap Participants, Repo Participants, and Master Netting Agreement Participants
Title 11 › CHAPTER 7 — LIQUIDATION › SUBCHAPTER III — STOCKBROKER LIQUIDATION › § 753
Summary
Even if other parts of the law say otherwise, when certain financial players (like forward contract merchants, commodity brokers, stockbrokers, banks and similar participants) use rights under these rules, doing so does not change how any unsecured claim they have is ranked for payment afterward.
Full Legal Text
Title 11, §753
Bankruptcy, Source: USLM XML via OLRC
Notwithstanding any other provision of this title, the exercise of rights by a forward contract merchant, commodity broker, stockbroker, financial institution, financial participant, securities clearing agency, swap participant, repo participant, or master netting agreement participant under this title shall not affect the priority of any unsecured claim it may have after the exercise of such rights.
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. § 753
Title 11, Bankruptcy
Last Updated
Aug 21, 2026
Release point: 119-102