Section 1507: Additional Assistance

 

Title 11 of the United States Code - Bankruptcy ANCILLARY AND OTHER CROSS-BORDER CASES – CHAPTER 15

Additional Assistance –Section 1507

11 USCS § 1507


(a) Subject to the specific limitations stated elsewhere in this chapter [11 USCS §§ 1501 et seq.] 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 debtor's 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 debtor's 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.


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