Section 1523: Actions to Avoid Acts Detrimental to Creditors

 

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

Actions to Avoid Acts Detrimental to Creditors –Section 1523

11 USCS § 1523


(a) Upon recognition of a foreign proceeding, the foreign representative has standing in a case concerning the debtor pending under another chapter of this title to initiate actions under sections 522, 544, 545, 547, 548, 550, 553, and 724(a) [11 USCS §§ 522, 544, 545, 547, 548, 550, 553, and 724(a)].

(b) When a foreign proceeding is a foreign nonmain proceeding, the court must be satisfied that an action under subsection (a) relates to assets that, under United States law, should be administered in the foreign nonmain proceeding.

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