§2161 Applicability of Other Laws; Definitions

Summary

Applies many parts of the federal bankruptcy law (Title 11) to cases under this subchapter. Section 930 of Title 11 also applies, but not during the first 120 days after the case begins. When Title 11 words like “this title” or “the Code” appear in those applied sections or in the Federal Rules of Bankruptcy Procedure, they mean this subchapter for these cases. If a Title 11 section only works when the debtor’s business is allowed to run, it still works here when the business is allowed. Definitions used in this subchapter: “affiliate” — also includes territorial instrumentalities and their territory; “debtor” — the territory or covered territorial instrumentality that filed the case; “holder of a claim or interest” — excludes an Issuer or Authorized Instrumentality of the Territory Government Issuer or entities they control (beneficiaries are not excluded), and the court can order a separate creditors’ committee under section 1102(a)(2) if asked; for Insured Bonds it means the monoline insurer to the extent that insurer has voting rights; “Insured Bond” — a bond with a financial guarantee or similar insurance from a monoline insurer; “property of the estate” — means the debtor’s property; “State” — means State or territory when describing the State’s relationship with a municipality or territorial instrumentality; “trustee” — means the Oversight Board here, and does not mean the U.S. Trustee. The Oversight Board must consider whether claims are secured and their priorities when deciding if claims are “substantially similar” under section 1122.