PUBLIC LAW 109–8—APR. 20, 2005
119 STAT. 141
‘‘(f) The exercise of rights not subject to the stay arising under section 362(a) pursuant to paragraph (6), (7), (17), or (27) of section 362(b) or pursuant to section 362(n) shall not be stayed by any order of a court or administrative agency in any proceeding under this chapter. ‘‘§ 1520. Effects of recognition of a foreign main proceeding ‘‘(a) Upon recognition of a foreign proceeding that is a foreign main proceeding— ‘‘(1) sections 361 and 362 apply with respect to the debtor and the property of the debtor that is within the territorial jurisdiction of the United States; ‘‘(2) sections 363, 549, and 552 apply to a transfer of an interest of the debtor in property that is within the territorial jurisdiction of the United States to the same extent that the sections would apply to property of an estate; ‘‘(3) unless the court orders otherwise, the foreign representative may operate the debtor’s business and may exercise the rights and powers of a trustee under and to the extent provided by sections 363 and 552; and ‘‘(4) section 552 applies to property of the debtor that is within the territorial jurisdiction of the United States. ‘‘(b) Subsection (a) does not affect the right to commence an individual action or proceeding in a foreign country to the extent necessary to preserve a claim against the debtor. ‘‘(c) Subsection (a) does not affect the right of a foreign representative or an entity to file a petition commencing a case under this title or the right of any party to file claims or take other proper actions in such a case.
Applicability.
‘‘§ 1521. Relief that may be granted upon recognition ‘‘(a) Upon recognition of a foreign proceeding, whether main or nonmain, where necessary to effectuate the purpose of this chapter and to protect the assets of the debtor or the interests of the creditors, the court may, at the request of the foreign representative, grant any appropriate relief, including— ‘‘(1) staying the commencement or continuation of an individual action or proceeding concerning the debtor’s assets, rights, obligations or liabilities to the extent they have not been stayed under section 1520(a); ‘‘(2) staying execution against the debtor’s assets to the extent it has not been stayed under section 1520(a); ‘‘(3) suspending the right to transfer, encumber or otherwise dispose of any assets of the debtor to the extent this right has not been suspended under section 1520(a); ‘‘(4) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor’s assets, affairs, rights, obligations or liabilities; ‘‘(5) entrusting the administration or realization of all or part of the debtor’s assets within the territorial jurisdiction of the United States to the foreign representative or another person, including an examiner, authorized by the court; ‘‘(6) extending relief granted under section 1519(a); and ‘‘(7) granting any additional relief that may be available to a trustee, except for relief available under sections 522, 544, 545, 547, 548, 550, and 724(a).
VerDate 14-DEC-2004
08:19 Oct 26, 2006
Jkt 039194
PO 00001
Frm 00139
Fmt 6580
Sfmt 6581
E:\PUBLAW\PUBL001.119
APPS06
PsN: PUBL001
�
