FEDERAL · 11 U.S.C. · Chapter 15
Presumption of insolvency based on recognition of a foreign main proceeding
Current through Pub. L. 119-102
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.
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11 U.S.C. § 1531 (Presumption of insolvency based on recognition of a foreign main proceeding) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 303
11 U.S.C. § 303
Source Credit
History
(Added Pub. L. 109–8, title VIII, §801(a), Apr. 20, 2005, 119 Stat. 144.)
Editorial Notes
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.
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.