Section 1169 - Effect of Rejection of Lease of Railroad Line


Title 11 of the United States Code - Bankruptcy
REORGANIZATION – CHAPTER 11


Effect of Rejection of Lease of Railroad Line –Section 1169
11 USCS § 1169



(a) Except as provided in subsection (b) of this section, if a lease of a line of railroad under which the debtor is the lessee is rejected under section 365 of this title [11 USCS § 365], and if the trustee, within such time as the court fixes, and with the court's approval, elects not to operate the leased line, the lessor under such lease, after such approval, shall operate the line.
 
(b) If operation of such line by such lessor is impracticable or contrary to the public interest, the court, on request of such lessor, and after notice and a hearing, shall order the trustee to continue operation of such line for the account of such lessor until abandonment is ordered under section 1170 of this title [11 USCS § 1170], or until such operation is otherwise lawfully terminated, whichever occurs first.
 
(c) During any such operation, such lessor is deemed a carrier subject to the provisions of subtitle IV of title 49 [49 USCS §§ 10101 et seq.] that are applicable to railroads.


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