§2161 Applicability of Other Laws; Definitions

Summary

Many parts of the federal bankruptcy law (Title 11) apply to cases under this subchapter. Section 930 of Title 11 also applies, but it does not apply during the first 120 days after the case starts. Words used in those Title 11 sections keep the same meanings they have there, unless this subchapter gives a different meaning. When those Title 11 sections refer to phrases like "this title" or "this chapter," read them as referring to this subchapter instead. When deciding if different claims are “substantially similar,” the Oversight Board must look at whether the claims are secured and whether they have priority. If a Title 11 rule only works when the debtor is allowed to run a business, it also works here when the business is allowed to operate. Definitions used here: Affiliate — also includes territorial instrumentalities and the territory that governs them. Debtor — the territory or covered territorial instrumentality that filed the case. Holder of a claim or interest — excludes certain issuers or territorial instrumentalities and entities they control (but beneficiaries can still be included), and for insured bonds it means the monoline insurer when the insurer has voting rights. Insured Bond — a bond that has a financial guarantee from a monoline insurer. Property of the estate — means the debtor’s property. State — means State or territory when talking about a State’s relation to a municipality or territorial instrumentality. Trustee — generally means the Oversight Board, not the U.S. Trustee.