Section 1531: Presumption of Insolvency Based on Recognition of a Foreign Main Proceeding
Title 11 of the United States Code - Bankruptcy ANCILLARY AND OTHER CROSS-BORDER CASES – CHAPTER 15
Presumption of Insolvency Based on Recognition of a Foreign Main Proceeding –Section 153111 USCS § 1531
In the absence of evidence to the contrary, recognition of a foreign main proceeding is, for the purpose of commencing a proceeding under section 303 [11 USCS § 303], proof that the debtor is generally not paying its debts as such debts become due.
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