Section 1530: Coordination of a More Than One Foreign Proceeding

 

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

Coordination of a More Than One Foreign Proceeding –Section 1530

11 USCS § 1530


In matters referred to in section 1501 [11 USCS § 1501], with respect to more than 1 foreign proceeding regarding the debtor, the court shall seek cooperation and coordination under sections 1525, 1526, and 1527 [11 USCS §§ 1525, 1526, and 1527], and the following shall apply:

   (1) Any relief granted under section 1519 or 1521 [11 USCS § 1519 or 1521] to a representative of a foreign nonmain proceeding after recognition of a foreign main proceeding must be consistent with the foreign main proceeding.

   (2) If a foreign main proceeding is recognized after recognition, or after the filing of a petition for recognition, of a foreign nonmain proceeding, any relief in effect under section 1519 or 1521 [11 USCS § 1519 or 1521] shall be reviewed by the court and shall be modified or terminated if inconsistent with the foreign main proceeding.

   (3) If, after recognition of a foreign nonmain proceeding, another foreign nonmain proceeding is recognized, the court shall grant, modify, or terminate relief for the purpose of facilitating coordination of the proceedings.

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