11-U.S.C.-1507

§1507 – Additional Assistance

Pathway

Title 11 > Chapter 15 > Subchapter I > Section 1507

Details

• Reference: Section 1507
• Legend: §1507 – Additional Assistance
• USCode Year: 2013

Provision Content

(a) Subject to the specific limitations stated elsewhere in this chapter the court, if recognition is granted, may provide additional assistance to a foreign representative under this title or under other laws of the United States.

(b) In determining whether to provide additional assistance under this title or under other laws of the United States, the court shall consider whether such additional assistance, consistent with the principles of comity, will reasonably assure—

(1) just treatment of all holders of claims against or interests in the debtors property;

(2) protection of claim holders in the United States against prejudice and inconvenience in the processing of claims in such foreign proceeding;

(3) prevention of preferential or fraudulent dispositions of property of the debtor;

(4) distribution of proceeds of the debtors property substantially in accordance with the order prescribed by this title; and

(5) if appropriate, the provision of an opportunity for a fresh start for the individual that such foreign proceeding concerns.

(Added Pub. L. 109–8, title VIII, §801(a), Apr. 20, 2005, 119 Stat. 136.)

U.S. Encyclopedia of Law Coverage

11-U.S.C.-1322 in the Legal Encyclopedia: Bankruptcy

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11-U.S.C.-112 in the Legal Encyclopedia: Bankruptcy Cross Border Cases

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Topic Map

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