Page:United States Statutes at Large Volume 92 Part 2.djvu/1346

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.

PUBLIC LAW 95-000—MMMM. DD, 1978

92 STAT. 2626

PUBLIC LAW 95-598—NOV. 6, 1978 SUBCHAPTER IV—RAILROAD REORGANIZATION Sec. 1161. 1162. 1163. 1164. 1165. 1166.

,:;'•

1167. 1168. 1169. 1170. 1171. 1172. 1173. 1174.

Inapplicability of other sections. Definition. Appointment of trustee. Right to be heard. Protection of the public interest. Effect of Interstate Commerce Act and of Federal, State, or local regulations. Collective bargaining agreements. Rolling stock equipment. Effect of rejection of lease of railroad line. Abandonment of railroad line. - .Priority claims. Contents of plan. Confirmation of plan. . ' Liquidation.

SUBCHAPTER I—OFFICERS AND ADMINISTRATION 11 USC 1101. Ante, p. 2562.

11 USC 1102.

§ 1101. Definitions for this chapter In this chapter— (1) "debtor in possession" means debtor except when a person that has qualified under section 322 of this title is serving as trustee in the case; (2) "substantial consummation" means— ^v i... (A) transfer of all or substantially all of the property proposed by the plan to be transferred; (B) assumption by the debtor or by the successor to the debtor under the plan of the business or of the management of all or substantially all of the property dealt with by the plan; and (C) commencement of distribution under the plan. § 1102. Creditors' and equity security holders' committees (a)(1) As soon as practicable after the order for relief under this chapter, the court shall appoint a committee of creditors holding unsecured claims. (2) On request of a party in interest, the court may order the appointment of additional committees of creditors or of equity security holders if necessary to assure adequate representation of creditors or of equity security holders. The court shall appoint any such committee. (b)(1) A committee of creditors appointed under subsection (a) of this section shall ordinarily consist of the persons, willing to serve, that hold the seven largest claims against the debtor of the kinds represented on such committee, or of the members of a committee organized by creditors before the order for relief under this chapter, if such committee was fairly chosen and is representative of the different kinds of claims to be represented. (2) A committee of equity security holders appointed under subsection (a)(2) of this section shall ordinarily consist of the persons, willing to serve, that hold the seven largest amounts of equity securities of the debtor of the kinds represented on such committee. (c) On request of a party in interest and after notice and a hearing, the court may change the membership or the size of a committee appointed under subsection (a) of this section if the membership of such committee is not representative of the different kinds of claims or interests to be represented.